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Response to Wellstone ruled (Reply #3)

Tue Aug 27, 2019, 09:22 PM

4. It's a mixed bag - and nearly all are seeing a slowdown (or recession) this year

Brazil and Argentina are indeed about flat, in per capita GDP terms, from 2008.

They had relatively mild recessions in '09, and strong recoveries in 2010-11 - but have since been stagnant.

Argentina, in particular, has been in a deep recession since Macri's debt bubble imploded in April 2018 (not unlike the Bush bubble).

Mexico and Ecuador, very slow growth: now only around 10% higher in per capita terms from 2008.

Both are now in mild recessions.

Chile, Colombia, and Peru: 20-25% higher per capita GDP than in '08 (about as much as the U.S.). They're still seeing 2-3% growth this year.

Venezuela, of course, is in a league of its own: this year's GDP per capita will be at most half of what it was in '08. This is comparable to the post-1989 collapse in the former Soviet republics.

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Wellstone ruled Aug 2019 #1
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