OF THE UNKNOWN GROWING CHAMPIONS

Guyana, our neighbor to the north, specifically with Roraima, 800,000 inhabitants, 214,000 km2, has GDP growth this year of 19%. Oil, foreign investments.

Guaiana is not alone in this championship. Ireland, with investments from multinationals, will grow 12.5%. Vietnam, Ethiopia, India, Rwanda, Indonesia, Uzbekistan and Kazakhstan grow between 5.5 and 7.5%. Bangladesh, which in the 1980s was one of the poorest countries in the world, exported 35 million USD of clothing. Today it exports 40 billion and the average income grew from 600 dollars to 2,600. And this jump happened with the change of the textile industry there, modernization of equipment, cheap credits and labor training. The country is still poor, but less so. And who benefited, besides the famous brands that manufacture there and sell at the price of gold in developed countries? Brazil, the world's largest cotton producer. And millions of young people who play with balls made there.

Each country has its roots or growth bases. One of them is foreign capital. All the champions mentioned receive it, but no one more than Brazil. The difference is that in these countries foreign capital is destined for development. All of them make reforms of the economic system, less bureaucracy, less regulation, inflation and corruption control, better use and growth of the domestic market and above all legal stability. Well, it may be that not everything is as brilliant as described, but it must be much better than in Latin America, where, in addition to Guyana, growth does not even reach the feet of the countries mentioned. And in Europe, in addition to Ireland, only Poland will have a comparable growth with these country countries.

There is no single formula for development. Each country has its own competitive advantages. But, all of them are clear about their national interest, their long-term vision, their political and legal stability. Another important point is that they do not measure their economic development without adding the growth of HDI, human development. And then come investments in education and health. On the other hand, there are important investments in infrastructure, reducing "Brazil" costs. And, last but not least, export raw materials, but increase their local processing. This is the case with nickel in Indonesia. And all of them use technologies from 5G, AI, satellites and everything else, in unlimited extension. It's worth looking at why they get these development rates and others don't.