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We distort, you decide

7 April 2011

Even though it has “Latino” in the masthead, Fox News Latino still Fox News…

Latin America is divided into two distinct economic blocs after the global recession, finds a survey released by the Inter-American Development Bank (BID) last week.

The commercial goods and services of Central America and the Caribbean are narrowly tied to Mexico, and are relatively dependent on the economies of advanced industrialized countries like United States and Japan which are still recovering from recession, according to the survey.

A second, much faster growing group of countries is led by Brazil and includes South American countries such as Chile, Bolivia, Paraguay, Uruguay, Argentina, Colombia and Venezuela…

The BID says that the economy of the Brazilian-led group could grow up to 4.4 percent in 2011, while the group led by Mexico will only grow 2.2 percent.

One advantage Mexico has over Brazil, according to economists is that it has an open economy. “The policy of economic openness and macro-economic responsibility have helped Mexico over the years,” said Andrei Gromberg, a Professor of Economics at the Mexico Autonomous Institute of Technology in Mexico City.

So, am I right that there’s an advantage in showing only half as much growth as that of the more overtly socialist economies, or at least not tied to the United States?  Or does “advantage” have some special meaning in academic economic circles that I’m not aware of?

Silly me… this is Fox, not facts.

3 Comments leave one →
  1. Bear permalink
    7 April 2011 9:10 am

    Fair and balanced..The only good new from Fox this morning is that Glen Beck is gone.

  2. Rafael FS permalink
    17 April 2011 8:26 pm

    “Agriculture accounts for 30 percent of Brazil’s gross national product”

    Agriculture accounts for 6% of Brazilian GDP, as the link below shows.* Where do these guys take their economic data from, Disney Channel? The international press has been dismissing South American growth as being tied to commodities boom and purposely ignores the much more important role domestic activity – consumption and infrastructure investment – plays in GDP growth. This is mainly because those states have been increasingly turning away from free-market policies and are pushing the state bank into the economy by strengthening state-owned enterprises and increasing public investment.

    http://ibge.gov.br/home/presidencia/noticias/noticia_visualiza.php?id_noticia=1830&id_pagina=1&titulo=Em-2010,-PIB-varia-7,5%-e-fica-em-R$-3,675-trilhoes

  3. Rafael FS permalink
    17 April 2011 8:29 pm

    It’s also funny that, in an article about the superior growth of South America, nothing positive is effectively said about the region. Yeah, that’s Fox News.

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