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Democracy New World: Peru and Colombia. Mary Anastasia O’Grady, WSJ Editoria
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Peru stands out for its adherence over the past 15 years to democratic capitalism, during a time when the authoritarianism of chavismo emanating from Venezuela gained ground in neighboring countries. Even the 2011 election of Ollanta Humala—an ally of Venezuelan President Hugo Chávez who died in 2013—didn’t derail Peru’s capitalist revolution.

“The economy grew at a compounded annual rate of 5% from 1999 through 2008. Over the same period exports went up by a factor of seven. Strong commodity prices helped. But Peru also did its structural homework.

A vibrant mining sector, financed by foreign investors, was allowed to flourish alongside the trade liberalization begun in the 1990s, which ended protectionism for domestic producers. Access to foreign exchange and imports gave Peruvian entrepreneurs the tools they needed to compete globally. In the years since the global financial crisis and the slowdown of the Chinese economy Peru has been among the region’s best performers with a compounded annual rate of growth of 4.7% from 2009 through 2015.

“Another Peruvian achievement since Mr. Fujimori left office in 2000—after he tried to run for a constitutionally forbidden additional term and was blocked—is that no president has tried to stick around beyond his term limit. Mr. Fujimori was popular because he stabilized a country brought to the brink by hyperinflation and terrorism. But with the backing of the left—which never forgave his victory over the bloodthirsty Maoist terror group Shining Path—Peru’s democrats stopped the president’s power grab. He’s now in prison for convictions on charges of human-rights violations and bribery…”

http://www.wsj.com/articles/a-close-race-in-pro-growth-peru-1465180274?tesla=y

http://www.wsj.com/articles/santoss-power-grab-in-the-name-of-peace-1463950910
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