Peru’s GDP Growth Demonstrates Less Market Intervention is More
Read More: http://newswalls.blogspot.com/2012/11/perus-gdp-growth-demonstrates-less.html
As Western investors continue to agonize over the United States’ impending “fiscal cliff” and whether Europe’s recent currency expansion and debt relief programs will save the euro, the nation of Peru, little noticed by pundits and major media outlets, is providing an example of how to do things right. Both the media and the leaders of the world’s largest economies might do well to borrow a page from Peru, which has consistently delivered GDP growth of between 6% and 9% year over year. So what is Peru doing right that the rest of the world is doing wrong?
According to a June 2012 statement by Goldman Sachs’ chief economist for Global Investment Research, Jan Hatzius, both the U.S. and EU are expected to see minimal growth for the last half of 2012 and into 2013. For the U.S. this growth is expected to be somewhere between 1.8 and 2.0 percent.