In his latest column published in Fox News Latino, Public Policy Ph.D. student Justin Vélez-Hagan writes historians may view this as Puerto Rico’s “lost decade” if no changes are made to its economic policies. Vélez-Hagan is executive director of the National Puerto Rican Chamber of Commerce. He writes Puerto Rico’s economic woes may be rooted in production.
“Many believe that Puerto Rico’s weak economy is partly attributable to a lack of investment in the production of exports, often considered one of the major factors behind the original ‘lost decade,'” Vélez-Hagan writes.
In the article, Vélez-Hagan also contends that even with its economic struggles, it is unlikely Puerto Rico will go through a substantial economic collapse.
“Although it won’t be bailed out by the IMF or World Bank, its economy still has something the rest of the world envies: the financial backstop of the greatest economic powerhouse that ever existed, one that is unlikely to allow a U.S. territory with nearly four million of its citizens to suffer through a Latin American-style economic collapse,” he adds.
To read the full column in Fox News Latino, click here.