Panama: Latin America's Most Prosperous Economy is Just a Figure

Here is Panama. After breaking away from Spain in 1821 it became part of The Republic of Gran Colombia. Later on, with U.S. backing Panama seceded from Colombia in 1903 and the Panama Canal was built by the U.S. Army Corps of Engineers. After the United States stole massive amounts of money from the Panama Canal, it decided to make an agreement to give it back to the Panamanian's in 1977. Today a significant portion of Panama's GDP is comprised from revenues of the canal. As of 2010 Panama is the second most competitive economy in Latin America according to according to the Global Competitiveness Index from the World Economic Forum (WEF). Don't let statistics fool you. Being a competitive economy in the Latin American market means nothing. The majority of the people are still poor. Shouldn't the world's most valuable canal make the country rich? Why is still relatively poor?

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News & Politics

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• World

[videogoatbird]

Them like Panama specific lyrics ain't they? I didn't see no Chinese. Is that the Black Jesus in Colon?

[SebastianAEslava]

@videogoatbird Yes thats the Black Jesus in Colon. What do you mean by them like Panama specific lyrics? Do you mean you don't think the lyrics apply to Panama?

[videogoatbird]

@SebastianAEslava You got me watching a bunch of Immortal Technique Videos It blows my mind because that's like the smartest man I ever heard before? He says he don't care about marketing his music cause really he's a revolutionary. Awesome.

[SebastianAEslava]

@videogoatbird Yeah he is one of the few rappers who has a serious reason for rapping. I don't trust everything he says of course, but like you said, he raps intelligently.

[dalixas]

Lots of room for improvement but you can see it as a half full glass too, not a half empty one.

Complicado juzgar el pais de otras personas e imposible el ser objetivo.

[veteranfw]

@xxwzaebd, you obviously don't know your history...the Korean people rebuilt their country with US dollars and assistance. Remember, S. Korea was completely destroyed with no currency or money. Over 50 plus years of US protection and aid, the Korean government and the people of Korea have rebuilt Seoul and the rest of S. Korea into the 12th largest economy in the world.

[veteranfw]

None of this would have been possible without US and United Nation intervention. If S. Korea is another US as your say, it’s because they used our social model to emulate a blue-print for its success. I'm not certain what country you're from, but after WWII, the US through the Marshall Act financed and rebuilt a destroyed Germany, France and Italy as it did for S. Korea.

[veteranfw]

So, if you're from any of the aforementioned countries mentioned above, your great, great grandparents were able to live because of US soldier’s giving their lives in your ancestors defense. So my advice to you is, “get a better education, because there's no place for ignorance in the world today...the stacks are just too high”.

[veteranfw]

People listen... Panama under the dictatorship of Manuel Noriega fell into great poverty while he prospered from US tax dollars. Noriega murdered anyone who opposed his authority to remain in power after the US military left Panama. Keep in mind, it was the American's who completed what the French could not complete and left behind...The Panama Canal.

[veteranfw]

The US established Panama as a military strategic gateway to South America to shorten the supply route to North America and placed military forces there and began developing what was no more than a poor Island nation of Panamanian Indians. There was no government then.

[veteranfw]

Many years later, once the decision was made to return the Panama Canal back to Panamanian control the Panama people along with the US had established a free democratic government, and was able to establish a mutual partnership with the US to safe guard the Canal and proper from its revenue.

[veteranfw]

Unfortunately, your country chose Manuel Noriega as your leader. Then again, I believe he was supported but the US to lead Panama. Like all leaders, he got greedy and arrogant and seized the opportunity to slay or jail anyone who opposed his rule… All the while being financed by US tax dollars to safe guard the Panama Canal with his own military and Police.

[veteranfw]

So if you’re going to blame anyone, blame Manuel, he’s the animal that screwed the people of Panama for over three decades.

[veteranfw]

Now that you have a stable government and stable economy, the current President is doing what any smart business man would do to nation build…he’s inviting outside businessmen, real estate developers and financial institutions to invest in the growth of Panama.