Over the course of good years and bad, the countries of Latin America have recently been taking diverging paths to very different futures.
In one camp are countries such as Chile, Colombia and Panama, which are actively promoting the rule of law. By fostering an investment climate that supports job creation and economic growth, they have advanced the prosperity of their citizens.
In another camp are countries such as Bolivia, Ecuador and Nicaragua, which have taken stances inimical to the rule of law and hostile to international investment. Unsurprisingly, they have seen growth and investment collapse.
The difference in outcome is stark. The UN’s Economic Commission for Latin America and the Caribbean has for several years reported that countries in the second group have attracted almost no foreign direct investment, and economic growth and job creation have suffered.
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