MercoPress. South Atlantic News Agency
Opportunity for Latin America?
The dynamics of the past few months regarding the price of oil, prime materials and food stuffs, worryingly reminds us of what happened to the world economy mid-2008. At the time the sky high price of oil – which reached U$147 a barrel - and the food crisis caused havoc. Read full article
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Disclaimer & comment rulesThe English on this propaganda sheet for their interests will be astonished they have allowed this story.Perhaps its a bit like Tunisia trying to keep up with events.As I and others have said on other forums on this Radio Moscu site this merely confirms the future and those who live on the Malvinas should really begin to prepare themselves for the future.Lets see the population is around 3000 right now but immedaitelt that would double so in the natural order of things that would be 1500 River fans 1500 for Boca,500 each for Racing,Independiente and San Lorenzo so that would leave a few hundred for Velez,Estudiantes,Central,Nuls and maybe there would be 50 Portsmouth fans left.
Jan 23rd, 2011 - 11:49 pm - Link - Report abuse 0“Another alternative would be to use the Chilean model and create a fund with the extra Income from exports, to use when the current cycle of growth ceases.”
Jan 24th, 2011 - 12:00 am - Link - Report abuse 0From this one can only see that the author of this piece doesn't understand the region's economies. Except for a few of them - Venezuela and Bolivia, for instance - most have been relying on domestic consumption and investment to spur growth. It is known that, in spite of this superficial talk of commodities boom, most Latin American economies have current account deficits. They are importing more than exporting, that is to say, there's more money leaving the region than entering it. How are they supposed to create such a fund, then? How can those countries save money that they are actually losing?? We're all seeing some Latin American countries losing their nerves on their strong currencies. Would they really be so anxious about this issue had they been profitting so much from exports as the author seems to be thinking?
As for this:
“In this context, the exporting countries of Latin America will have to try and avoid their currencies devaluing, which is also caused by the growth of the United States monetary market and could reduce the competitive price of their exports and possibly encourage internal inflation, which can also reduce their competitiveness and generate social unrest.”
What does that even mean?
Tell me amigo who are these South American countries running deficits.Lets talk about 2010 as that is the most recent
Jan 24th, 2011 - 12:20 am - Link - Report abuse 0www.tradingeconomics.com gathers official information on almost all world economies. According to it, for the first three quarters of 2010 Brazil, Colombia, and Peru had current account deficits (information for the whole year is not yet complete). There's no information on the smaller economies - Ecuador, Paraguay, and Uruguay - for last year. But for the past many years the trend for Uruguay was to have high trade deficits; for Chile, Ecuador, and Paraguay it was to have shrinking surpluses. Venezuela and Bolivia are the only countries in the region with consitently high trade surpluses. As such they're the only ones who can plausibly follow the author's advice to save money from exports. Except for those two and Argentina - which has small but consistent surpluses - the rest of the countries not only cannot save more money, but they actually have to attract foreign cash inflows in order to finance the deficits.
Jan 24th, 2011 - 12:57 am - Link - Report abuse 0you cant look 1 year and forget all the others. but you can look at the debt.
Jan 24th, 2011 - 11:46 am - Link - Report abuse 0if a country has small debt its much better. most South American countries have small external debt.
you can also devalue your currencies and export more. lets print some money! everyone is doing it.
@gdr
Jan 24th, 2011 - 06:29 pm - Link - Report abuse 0thats small compared to the gigantic debts of Europe and USA.
I don't think there is anything wrong with export tax.
Jan 27th, 2011 - 04:53 am - Link - Report abuse 0we can use the Malvinas ilegal british colony as an example of how to build capital without doing any of the work by taxing the resources, why re-invent the wheel ?
Corporation Tax
Companies are charged Corporation Tax at 21% on the first £1 million and any amount thereafter at 26%.
Corporate non-resident offshore contractors involved in the search for petroleum will be chargeable to Corporation Tax at the normal (or full) rate of 26%.
A pay and file system is in operation, which requires companies to pay Corporation Tax without demand and to file accounts, both within specified limits.
Income Tax For individuals:
2010 income tax year - Personal allowance (PA) £14,000, then the first £13,000 of net chargeable income is charged at 21% and any amount thereafter charged at 26%.
Note: with effect from 1 January 2011 – PA £12,000, then the first £12,000 of net chargeable income is charged at 21% and any amount thereafter charged at 26%.
Non-Residents and Non-Ordinarily Residents
- Subject to FI tax on FI income/duties performed in FI.
- Entitled to a proportion of the PA based on the number of days they were present in FI during the tax year.
- Not entitled to any reliefs for Retirement Pension Contributions (RPCs), personal pension/retirement benefit schemes, subscriptions, charitable donations.
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