North American

However, by counterpart, some of these countries count on other shields that can help to balance a little the situation. It is the case, for example, of Peru, where Cardinal red professor Tuesta in the last emphasizes that has been managed to consolidate a strong growth, with an average of 6% seven years, accompanied by a prudent fiscal handling, that has allowed to a great extent to save the income generated by the high prices of minerals, like gold, the copper, the silver and the zinc. For it, it has been of tremendous aid to count on a fiscal rule, concerning the Law of the Congress, that works from 1998. Also the advances in terms of commercial opening have been fundamental from the years 90, that have continued deepening themselves in this decade and that is allowed to balance, in certain way, the trade balance, with relative gains in the commerce of manufacturing sectors, like the textile and the agro-industrial one. Within that line, to maintain a Central bank of independent Reserve has been fundamental. Another life-guard of Peru, according to Cardinal red professor Tuesta, is the fact that great part of the present growth is anchored in the internal demand, which grants to a certain breathing in the short term to him. However, countries more employees of the international consumption, like Mexico or Venezuela, can undergo the financial crisis of the neighbor of the north. Richard Obuchi, professor of the Institute of Studies Superiores of Administracin (IESA) in Caracas, indicates that the risk country of Venezuela, like it happened in other emergent economies, rose considerably after the bankruptcy of Lehman Brothers.

In the Venezuelan case in particular, the risk perception increase, in addition, by events that affected the diplomatic relations between the United States and Venezuela during that week (like the decision of Hugo Chavez to expel the American ambassador). Nevertheless, the main risk for the economy Venezuelan is in the high dependency of the country in the conditions of international the oil market. In this sense, if the events in the United States lead to a situation of economic recession, the risk of a weakening of the prices of petroleum exists, by a diminution in the energy demand, which would negatively affect the economic performance of the country. Definitively, like Universia indicates Knowledge Wharton, although each country has his own idiosyncrasy, generally, all go to see seriously decreased his exports, and will be more exposed to them those that more shaken by crises will see, as it indicates to Cardinal red professor Tuesta, who anticipates more a deceleration in the tied exporting sectors to the North American market, like the textiles. In the same way, his colleague Kon indicates that the sectors focused to the export, like steel, and other mineral consumptions, also will reflect the diminution of the demand world-wide. Source: Universia Knowledge Wharton original Author and source of the article.