What Puerto Rico Warns the Rest of Latin America
Bad Bunny has a song called 'Lo que le pasó a Hawaii.' In it, he captures a widespread sentiment in Puerto Rico: the fear that the island will cease to belong to Puerto Ricans and become a new Hawaii—a tropical paradise whose main function is to be a vacation destination for wealthy Americans.
TL;DR
- The 'Lebanese model' is defined by a decreasing and aging population.
- Economies under this model increasingly prioritize short-term consumption over long-term investment and stable employment.
- Public discussions often focus on ideological debates about the past, diverting attention from concrete problem-solving.
- Puerto Rico's population has decreased from 4 million to 3.2 million, with a rapidly aging demographic.
- Investment in Puerto Rico has fallen significantly, while consumption has risen, and seasonal jobs are replacing stable manufacturing roles.
- Colombia is also exhibiting similar trends with a collapsing fertility rate, net emigration, and investment decline.
- Colombia's economic growth is driven by consumption and public spending, while manufacturing declines.
- The model fosters a society that becomes economically vulnerable, relying on external factors or diaspora remittances.
- Political discourse in affected countries is often captured by past narratives and identity politics, leading to short-term and clientelistic policies.
- This trend, ignored by the entire ideological spectrum, is building a path toward future vulnerability for younger generations.