â??Narendra Modiâ??s amazing victory gives India its best chance ever of prosperity.â?ť
I took an extensive tour last April through Asia, visiting Thailand, Singapore, Vietnam, Hong Kong, Taiwan and Japan. I noticed that while their economies were booming, their stock markets have been lackluster since the Great Recession of 2008. Only Thailand has advanced significantly, but then the country suffered a military coup and its market fell sharply.
Even Chile, the shining light of market liberalism in Latin America, has seen its stock market gradually decline during the past five years. It hasnâ??t helped that Chileâ??s government is considering increasing its corporate income tax sharply to 25% to pay for public education. I hope Chile doesnâ??t join Argentina and Venezuela in a shift toward socialism.
I was happy to read that Eduardo Galeano, the radical author of â??The Open Veins of Latin America,â?ť the bible of â??liberation theology,â?ť recently renounced his book. He finally realized that the United States and capitalist imperialism isÂ no excuse for poverty in the Americas. As one critic complained, â??He should feel really guilty for the damage he caused.â?ť
But there is one bright light in free-enterprise capitalism: India.
Read more about how you could profit from an Asian bargain at Eagle Daily Investor.