The Paradox of Paraguayan Manufacturing

Since President Horacio Cartes came to power in 2013, Paraguay's economy has grown substantially. In the face of a global commodities slump, the country has proved more resilient than Brazil and Argentina have, thanks to its business-friendly policies and proximity to the Southern Cone's most important markets. Despite its sustained economic growth and stable political environment, however, Paraguay's manufacturing industry -- the source of its newfound prosperity -- faces long-term limitations that will not be easy to surmount....