World Bank chief economist warns Latam of the “middle-income trap”

Thursday, May 17th 2012 - 11:48 UTC

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In what would be his last speech as part of the organization, Chief Economist and Senior Vice President of the World Bank Justin Lin held a conference at the UN’s Economic Commission for Latin American and the Caribbean (ECLAC) in Santiago de Chile. Read full article

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ManRod
well, the bases are not too comparable between China and Chile... in 1999, Chile had a GDP per capita of 5018 dollars, while China had arround 865 dollars. The bases where totally different, of course the lower base will grow much faster than the more developped ones. It would be like blaming the UK or US not to grow as fast as Chile (6%).
May 17th, 2012 - 06:31 pm - Link - Report abuse 0
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Condorito
Manrod,
You are correct about that, but the article makes a good point that countries like Chile lack innovation.
Raw materials will only get us so far, we must start manufacturing to keep moving up. A better model for us is Australia: lots of mineral wealth but also good technology.
May 17th, 2012 - 11:59 pm - Link - Report abuse 0
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Ernie4001
This lack of innovation in Latin America mostly comes up in first place for an education that tells the guys to do what´s already it´s been proved. Unlike the developed countries that try to innovate even from the school.
May 18th, 2012 - 03:19 am - Link - Report abuse 0
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