A Latin American decade?
Source: www.economist.com (Adapted) Sep 9th, 2010
Source: www.economist.com (Adapted) Sep 9th, 2010
Summit meetings involving Latin America´s
presidents are so frequent these days that Mexico´s
Mr Calderón has likened diplomacy in the region
to a mountain range. Yet for all the talk of regional
integration, political Latin America looks more divided
than ever. Mr Chávez likes to threaten war against
Colombia, which in turn accuses him of harbouring
its FARC guerrillas. Sub-regional trade groups such
as Mercosur and the Andean Community, which
made progress in the 1990s, have stagnated or fallen
apart.
Yet while politicians bicker, corporate Latin America is quietly moving closer together. A growing army of multilatinas have expanded abroad. Some, like Embraer or Bimbo, have become global multinationals. Many others, including Chilean retailers and Brazilian banks and construction fi rms, have expanded within Latin America. Some Mexican fi rms, led by América Móvil, a telecoms giant, are moving into Brazil. Until recently such fi rms tended to list their shares in New York, but now a Latin American capital market is poised to emerge. In three to fi ve years there will be a seamless network of Latin American stock exchanges, including Mexico´s, reckons Mr Oliveira of BRAIN Brasil.
The market-oriented reforms of the 1980s and 1990s, combined with a few years of commoditydriven prosperity, are transforming Latin American business.
Yet while politicians bicker, corporate Latin America is quietly moving closer together. A growing army of multilatinas have expanded abroad. Some, like Embraer or Bimbo, have become global multinationals. Many others, including Chilean retailers and Brazilian banks and construction fi rms, have expanded within Latin America. Some Mexican fi rms, led by América Móvil, a telecoms giant, are moving into Brazil. Until recently such fi rms tended to list their shares in New York, but now a Latin American capital market is poised to emerge. In three to fi ve years there will be a seamless network of Latin American stock exchanges, including Mexico´s, reckons Mr Oliveira of BRAIN Brasil.
The market-oriented reforms of the 1980s and 1990s, combined with a few years of commoditydriven prosperity, are transforming Latin American business.
According to the text, “there will be a seamless network of Latin American stock exchanges", which means this network will