Paraguay is entering a period in which infrastructure, energy and digital investment will increasingly determine its economic future. File Photo by Giuseppe Lami/EPA
May 21 (UPI) -- In a column published in these pages last month, I argued that corrosive capital does not simply distort markets. It distorts the state. It hollows out the institutions and regulatory bodies that a country needs to act in its own interest.
Often, it does this through the ordinary mechanics of investment, procurement and public concessions. The question this raises is practical: What, specifically, can Paraguay do about it?
The answer is not to close the door to foreign investment. That would be self-defeating. Paraguay is entering a period in which infrastructure, energy and digital investment will increasingly determine its economic future.
The country's openness is a genuine advantage. But openness without safeguards can expose strategic decisions to actors whose goals are not purely commercial. The task is discernment: learning to distinguish between productive capital and strategically corrosive capital before the latter takes root.
