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Latin America: Companies
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Global Crossing (Nasdaq: GLBC), a leading global IP solutions provider, today introduced a new, expanded suite of solutions in Latin America following its acquisition of Impsat Fiber Networks. The new service portfolio will be marketed under the Global Crossing brand, as the company begins to officially retire the Impsat brand.
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This militarisation of the Latin American company caused the recurring emergence of Caudillos, military chiefs whose hold on power depended on his abilities in battle, as a man of action. They entrusted the local authority to these Corronel writes of the local chiefs, 'holding their power of their personal richness and their political fidelity with the chief'
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Latin America risk having Dutch disease, because of their over dependence on natural resources versus developing their natural resources which are the people. There are very few companies in Latin American than can compete globally, in maybe 10 years when the political leaders wake up they will be backyard of multinationals and their economies dependent on consumer driven growth. If they do not reform their economies to develop industries and reform their education system they will be no off than in the past.
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