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Economy & Business - April 2007

A new approach to economic policy

Over the past five years economic policymaking in Latin America has, for the most part, become pragmatic rather than dogmatic. Even in avowedly socialist governments such as Venezuela or Bolivia, governments are not nationalising foreign companies without agreeing compensation. Nor have they made any attempt to nationalise the financial system. Instead, they appear to be targeting their nationalisation efforts on industries and companies that are either underperforming or have been undertaxed.

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