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Hernando de Soto discusses economic empowerment and why “capital is a proven tool in defeating terrorism”

Hernando de Soto, a pioneering Peruvian economist, argued in the Wall Street Journal that military might alone won’t defeat Islamic State and its ilk, but rather the U.S. needs to promote economic empowerment.

Using an example from recent history, Hernando describes how by 1990 a Marxist-Leninist terrorist organisation called Sendero Luminoso, or Shining Path, had seized control of most of his home country, Peru, where he served as the president’s principal adviser.

Fashionable opinion had it that capitalism couldn’t work outside of the West, when in fact reforms gave indigenous entrepreneurs and farmers control over their assets and a new, more accessible legal framework – thus spurring an unprecedented rise in living standards

Hernando argues that the same economic and cultural pessimism about the Arab world can be transformed by economic reform. He points out that “to make this agenda a reality, the only requirements are a little imagination, a hefty dose of capital (injected from the bottom up) and government leadership to build, streamline and fortify the laws and structures that let capitalism flourish. As anyone who’s walked the streets of Lima, Tunis and Cairo knows, capital isn’t the problem—it is the solution.”

Click here to read the full article, or watch the video above for more insight.

For more information, or to book Hernando de Soto as a keynote speaker for your conference or event, please contact Leo von Bülow-Quirk at leo@chartwellspeakers.com or call 0044 (0) 20 7792 8000.

“Hollywood stereotypes block economic development” warns Curtis S. Chin

Curtis ChinCurtis S. Chin, former US ambassador to the Asian Development Bank, has posted his latest musing on Asia, with a Hollywood twist.

In an article for CNN, Curtis uses the 1960s film, “The Good, the Bad and the Ugly,” to explain that although it is initially easy to distinguish between the good guys and the bad guys, the lines begin to blur as the Western plays out, reminding us of our tendencies to form stereotypes.

Curtis links this with the common stereotype of corporations being evil and greedy. In turn, he argues that this is prohibiting the partnership between governments and the private sector – a relationship that if respected can help fight poverty in countries like India, Nepal and China.

Curtis argues that for this relationship to blossom, “[we] must move beyond stereotypes, as well as politics and the business as usual mindset. Doing so is essential to extend Asia’s economic growth to this mountain region’s most important stakeholders – namely, the people who have long called the Hindu Kush-Himalaya their home.”

Read the full article here.

For more information, or to book Curtis S. Chin as a keynote speaker for your conference or event, please contact Leo von Bülow-Quirk at leo@chartwellspeakers.com or call 0044 (0) 20 7792 8000.

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