Word: regionality
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Argentina is just as sensibly working to cut its dependence on commodities-- the bane of almost every Latin economy. Argentina, which has one of the region's more skilled workforces, recently passed a biotechnology-promotion law to channel incentives to biotech firms. One, Bio Sidus, with $40 million in annual sales, is pioneering an affordable human-growth hormone from the milk of genetically modified calves cloned 60 miles (97 km) from Buenos Aires. "Our traditional cattle-ranching experience gives us a big advantage," says Bio Sidus president Marcelo Argüelles. "But our biggest challenge is obtaining financing at international rates...
That includes the institution that means the most in the long run. Chile directs more of its public expenditure (almost a fifth) to education and gets more of its kids through primary school (more than 90%) than any other country in the region save Cuba. Investing in people--a concept too long ignored in Latin America--is what makes economies competitive. That's as basic...
...Kiviat explains the significance of the WEF's country rankings. We are also launching on TIME.com an amazing Global Business section--a hub for up-to-the-minute business news, sorted by country. It features a comparison of WEF country rankings, videos from CEOs on business practices in their region and every global-business story the magazine has run. Please visit time.com/globalbusiness...
...surge policy is the only coherent policy we can follow. I think people need to calculate the adverse consequences for our friends and allies in the region if we withdraw precipitously from Iraq...
...White House still doesn't have a plan for protecting American interests in Pakistan without Musharraf. In essence Bush and the White House are winging it, trying to back Musharraf down from the current crisis while coming up with a longer-term approach to securing U.S. interests in the region...