2011 & Beyond: Americas

Taking stock of 2011 provides a looking glass into what will shape 2012. The Epoch Times recaps pivotal moments and movements around the globe that are sure to make the headlines again in the coming year.

CANADA: Conservative Banking Gains Currency Canada weathered the great recession better than other developed nations, giving the country’s financial leaders, particularly Bank of Canada Governor Mark Carney, greater international influence. Carney was appointed head of the Financial Stability Board for a three-year term starting in November. Canada’s economic resilience rests in its tightly regulated and conservative financial sector, though Carney’s foresight in keeping interests rates low and committing to do so for a year, as well as providing additional liquidity to the financial system, have been widely lauded.

MEXICO: Oil, Economy, and Security Entering 2012 Mexico will continue to face significant security challenges throughout the country from drug cartel violence and military abuses. Recent declines in oil production in Mexico’s national oil industry has hit the economy hard; the government relies on tax revenue from oil producer Pemex for 30 to 40 percent of its budget. Despite oil’s role as the national inheritance, Mexico may be forced to open the gates to foreign investment in domestic oil to encourage exploratory drilling and boost production.

BRAZIL: Playing Host Can Bring Host of Problems Brazil has much to prepare in 2012 as it gears up to host the World Cup in 2014 and the 2016 Olympics. The games bring much hope of expansion of infrastructure and public transit, but also concerns over corruption, cost overruns, social unrest, and drug gang security issues. The October resignation of Brazil’s sports minister amid accusations of corruption (making him the sixth cabinet minister to resign since June) did little to bolster President Dilma Rousseff’s administration in handling these matters.