The Latin American Decade in Motion

By Oscar Montealegre. Behind the curtains of the European Crisis, the U.S. sluggish economic recovery, and the geopolitical battles in the Middle East and North Korea, Latin America has quietly displayed economic resiliency and growth in the last few years. Some have dubbed this the ‘Latin American Decade’. Yet, if it is truly to be the long awaited Latin American golden era; certain challenges must be tackled to continue fanning the momentum the region has brought forth. Medellin, once considered the most dangerous city in the world, is now a new city. Although not yet a land of total peace and tranquility, it is far from the gross violence that stained the city for decades. From 1991 to 2010, the homicide rate in Colombia’s second largest city plunged an amazing 60 percent. Business and entrepreneurship is thriving, epitomized by three ‘multilatinas’—Latin American companies on the verge of becoming multinationals—making the city their home base. Citibank and Wall Street Magazine recently named Medellin the Most Innovative City in the world, ahead of New York City and Tel Aviv. In essence, Medellin is a microcosm of the current change that is resonating throughout Latin America, triggered by high economic growth, consumer confidence, political stability, and exports. Read more...