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South America will be the 21st Century’s Superpower

By Tim DLS  

Conventional wisdom tells us that a new star will rise in the East, and over the past decade all eyes have been looking towards China or India to witness the emergence of the 21st century’s new superpower. But if the three key elements for a strong and powerful economy are democracy, economic growth and low inflation then neither of those would-be giants makes the grade. Inflation in India is at a 13-year high; as for democracy in China… well there isn’t any. Remarkable as has been their recent economic growth the institutional frailty of both nations raises questions about long-term…

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