Good times roll.Poverty, corruption, demagogues galore. It's easy to see the bad news across Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. these days, and nearly as easy to forget the good: Huge increases in the prices for raw materials--still the motor that drives most economies in the region--mean lots of incoming cash. If it holds up through 2005 and into 2006, as at least one major region CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Roger Agnelli at Companhia Vale do Rio Doce Summary Companhia Vale do Rio Doce (CVRD) is a global diversified mining company, the second largest mining company in the world, and the largest logistics operator in Brazil. , predicts, the money flood will change the balance of power in lots of places. Venezuela's Hugo Chavez, for instance, is likely to feel emboldened em·bold·en tr.v. em·bold·ened, em·bold·en·ing, em·bold·ens To foster boldness or courage in; encourage. See Synonyms at encourage. Adj. 1. to force his country's Central Bank to hand over what he calls "excess" cash. Brazil's Luiz Inacio Lula da Silva probably will make good on his bid to build infrastructure across the continent, including through the Amazon River Amazon River Portuguese Rio Amazonas River, northern South America. It is the largest river in the world in volume and area of drainage basin; only the Nile River of eastern and northeastern Africa exceeds it in length. basin. If re-elected, perhaps he'll even make a dent in Brazil's hunger problem, once a major campaign issue. Center-left leaders like Chile's Ricardo Lagos and Uruguay's newly elected Tabare Vasquez can rest a bit easier, Lagos on his legacy and Vasquez on the months ahead. Money isn't making politicians complacent, however. They are demanding a bigger slice of the pie. In this issue, we look at moves to rewrite decades-old royalties laws that were designed to attract foreign investment when chaos and poor public management scared away all but the hardiest of extraction companies. It'll be interesting to see how far governments get before the mining and oil giants head for the exits. Better business often means better pay for the region's movers and shakers, so in this issue we also tackle what is becoming a buzzword A term that refers to the latest technology or a term that sounds catchy. If not a flash in the pan, new technologies become mainstream. For example, Java was a hot buzzword in the 1990s, but should remain a major topic for decades. , even among ordinary investors--hedge funds. Three words: Read prospectus carefully. Greg Brown gbrown@latintrade.com |
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