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By: Thomas Landstreet
There’s a noteworthy political movement afoot in South America that should excite investors. After decades of far left rule, the citizens of a number of countries have thrown off the yoke of socialism in order to give free market capitalism a shot and it’s already bearing fruit. The good news is, if they don’t reverse course, South America will lead the globe in economic growth.
And this time around, economic growth on the continent won’t be 100% related to one unpredictable driver: Chinese demand for natural resources. Those days are over. This time, it’s going to be a much healthier type of growth because the economic policy changes are supply side oriented, meaning they will stimulate the supply of production, enriching the economy and investors.
Now that Argentina and Peru have both elected business minded Presidents, it looks like the political and economic metamorphosis that began in Chile in the mid 70’s is gaining momentum. This process of economic liberalization is accelerating but it actually started decades ago.
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