The Occupy Movement began on Wall Street by the so-called 99% shut out from economic growth. But Latin America’s income gap mirrors the U.S. In Chile, it is particularly extreme.
Source: AMERICA ECONOMIA
America Economia is Latin America’s leading business magazine, founded in 1986 by Elias Selman and Nils Strandberg. Headquartered in Santiago, Chile, it features a region-wide monthly edition and regularly updated articles online, as well as country-specific editions in Chile, Brazil, Ecuador and Mexico.
-Editorial- BUENOS AIRES – There is much to criticize the Cuban government about, but its decision to allow its citizens to travel abroad without the infamous “white card” exit visa, deserves applause. Since January 14, Cubans are allowed travel abroad, just like citizens of any other democratic country – with a valid passport and a […]
-Editorial- SANTIAGO – In the morning on Jan. 4 in Araucania, a region in southern Chile where the Mapuche people live, a group of masked men attacked and set fire to the house of a local landowner and farmer who had spent years litigating with indigenous groups. The landowner, Werner Luchsinger and his wife were […]
BUENOS AIRES – For some people, it’s a powerful sign of the crisis in the luxury market in Argentina. For others, it’s more a sign of the frivolity and stupidity of the Argentine elite – the opening of a Chinese supermarket on the Avenida Alvear, Buenos Aires’s most prestigious shopping street, has roiled passions. The […]
SANTIAGO – In early November, a group of delegates from Latin America and Britain, all part of the British American Tobacco multinational, gathered in Rio de Janeiro. The company said it was a routine meeting, and offered few details. The one thing we can know for sure is that if any of them smoked, they […]
BUENOS AIRES – The organization of the 1934 World Cup in Italy by Mussolini and the 1936 Olympics in Germany by Hitler helped those governments legitimize their regimes around the globe. Sport in general – and soccer in particular – is a phenomenon that integrates society, promotes values and arouses a large interest amongst very […]
-Editorial- SANTIAGO – The recent corruption scandal involving Walmart in Mexico has coincided with the last corruption ranking by Transparency International. The giant American retailer, which also has stores in Brazil, Argentina, Chile and several Central American countries, has been accused of systematically paying bribes in Mexico that total more than $24 million over the […]
BOGOTA – According to legend, Colombia is blessed with coffee thanks to sinners. The legend comes from Francisco Romero, the priest of Salazar de las Palmas in the Santander province, who had a strange penance for residents who confessed their sins: to sow coffee seeds. The priest wasn’t naive – it was yet another push […]
-Analysis- SANTIAGO – After presenting their closing arguments, Peru and Chile are now awaiting the verdict of the International Court of Justice (ICJ) in The Hague on a maritime border dispute dating back to the 1980s. While the verdict is not expected for several months, how both countries respond to the ruling when it is […]
MEXICO CITY – “We say small here, not tall,” reminds a notice, written in black letters on the wall of this new chain of Mexican coffee shops. If coffee isn’t enough, there is also chocolate: hot, cold or with chili pepper that leaves consumers with a slightly burning throat. It’s been around for barely two […]
-Editorial- If there is one thing that both government supporters and the opposition in Venezuela can agree on: daily life in is an endless series of unnecessary frustrations. Here are just a couple of recent examples: problems with the ports delayed the arrival of Christmas trees – which are imported from Canada – raising the […]
SANTIAGO – Enrique Peña Nieto hasn’t stopped moving. Since he took over as president of Mexico, two weeks ago, he has signed enough documents and made enough promises to keep his government busy for the whole six years they have in front of them. In his inaugural address, he laid out a 13-point plan with […]
TIJUANA – The sinister stairs seem to lead down into a small hell. Illuminated with red lights and beating to the sounds of hard rock music, the air hangs with the smell of marijuana and sweat in a sticky cloud that engulfs everything. The destination is the basement, which has become one of the most […]
RIO DE JANEIRO – Felsberg Abogados’ studies of business law in Brazil are not only well-respected, but are often seen as a very real barometer of the health of the country’s economy. And Thomas Felsberg, the company’s founder, has been observing a unsettling trend since July: a steady increase in the number of companies seeking […]
BOGOTA – If Latin America were a game of Monopoly, we would be watching as one player put all his chips in the bank. That is the big offensive of Colombian banks, which have expanded from 35 international branches in 2007 to 175 last March. In 2007, Bancolombia bought the Banco Agricola conglomerate in El […]
SANTIAGO – “The visible web is the tip of the iceberg,” says Anand Rajaraman, co-founder of Kosmix, a search engine for the Deep Web (DW). One of Kosmix’ investors is none other than Jeff Bezos, CEO of Amazon. The iceberg sounds daunting, but Rajaraman seems to know what he’s talking about. How is it possible […]
BOGOTA – Last month marked the third time in a half-century of armed conflict that the FARC rebels and Colombian government started a bona fide peace process. Colombia faces more than one threat to public safety, but the fight against the FARC insurgence is the most burdensome for the military budget, which surpassed 3.7% of […]
SANTIAGO – Some time ago, Derek Mossman went to a New York restaurant and asked if they served any Chilean wines. The waiter answered: “No sir, this is a nice restaurant and we only serve good wines.” Mossman is the owners of Garage Wine Co, a Chilean winery. He was in the United States promoting […]
-Op Ed- SANTIAGO – The most urgent problem for the second term of President Barack Obama or the first term of President Mitt Romney will be a problem that neither of them created. We are talking about the cryptically dubbed ‘fiscal cliff,’ which, if it is not solved, will push the United States into another […]
SANTIAGO – It’s July of 1990, and the two Germany’s have just united, marking the end of the Cold War, and capped with West Germany’s soccer World Cup victory over Argentina. As the images of the defeated players travelled the world (who can forget Diego Maradona’s tears?), in New York, a Latin American company was […]
–Editorial– In spite of what the polls say and the voting urns told us – Hugo Chavez has indeed won another term, which will keep him in power until 2019 – it is also true that the true triumph in Venezuela’s election yesterday lay elsewhere: in the support for the young Henrique Capriles Radonski, the […]
BOGOTA – In the middle of July, as the Colombian government was presenting a bundle of measures to reform the health-care industry, 5,000 people congregated in the Plaza de Bolivar in Bogota to hold a “White March.” One block away from the president’s office, the protest was led by a group of women in black, […]
SANTIAGO – The U.S. Federal Reserve’s recently announced stimulus package, designed to strengthen the American economy, offered a clear reminder of the huge gap that exists today between Mexico and the rest of Latin America. While Mexico enthusiastically applauded the Fed’s decision to begin pumping $40 billion per month into the U.S. economy through the […]
SANTIAGO – The number, $7.9 billion, brings a smile to faces. That number corresponds to the amount of exports from Brazil to China in the first trimester of this year. The joy is reduced a little when you learn that 80 percent of that number comes from only three exports: soy, iron ore and petroleum. […]
-Analysis- LIMA – The negotiations that are set to begin formally in October are by no means the first attempt to demobilize members of the Revolutionary Armed Forces of Colombia (FARC) and incorporate the guerilla organization into the political process. There’s no guarantee, therefore, that these talks will succeed where others have failed. And yet […]
-Analysis- SANTIAGO – If Mitt Romney’s Mexican father had been deported or had not been able to enter the United States in July 1912, the Republican candidate would not have been born in Detroit in March 1947, Bain Capital would not have existed and, most probably, the citizens of the state of Massachusetts would not […]
BRASILIA – There’s a strange section on Walmart Brazil’s website, strange at least for a retailer. It’s not the usual invitation to apply for a job, “Work with us,” but an invitation to make real estate deals with the huge multinational company. “If you own land or a building where it would be possible to […]
MEXICO CITY – Alfredo, an Argentine in his 30s who lives in Madrid, swears he will never drink tequila again. His Mexican friends tell him that what he had was not the real tequila, their homeland’s national drink. Still, he insists, with the look of someone who has stared the devil straight in the eyes, […]
SANTIAGO – In 2009, the European Union agreed to gradually prohibit classic incandescent light bulbs, finishing the process in September 2012. The idea is to replace them with energy efficient light bulbs and kick start sales of green products. At the same time, Argentina was much more radical – at the beginning of 2011 the […]
EDITORIAL – You can criticize the president of Brazil, Dilma Rousseff, but you can’t accuse her of lack of integrity. As a young revolutionary she was tortured by Brazil’s military dictatorship in the 1970s, and came out of prison unscathed. When democracy was reestablished, she started a long political career. Her tactics may have changed […]