Pedro Castillo Zero Hedge: "Enough Looting My People": Peru's Marxist Presidential Frontrunner Pledges To Seize Offshore Company Profits
US corporations are facing an increasingly tough run over the next few years: on one hand all their domestic profits are about to be taxed at much higher rates thanks to Bidenomics, on the other, they are facing an increasingly hostile socialist regime internationally, that seeks to confiscate most if not all of their offshore profits.
Case in point, Peru, whose presidential front-runner, Marxist Pedro Castillo who favorably quotes Lenin and Castro, said he’ll do what leftists everywhere do, and intends to redistribute wealth - because socialism - by reviewing contracts with transnational companies in a move to increase onshore wealth.
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WNU Editor: Presidential front-runner Pedro Castillo is trying to reassure everyone .... 'There is no Chavismo here': Peru's presidential front-runner assures markets (NBC), but he is advocating policies that will negatively impact Peru's business and entrepreneur sector as well as foreign investment.
The programmer that handles some of my other websites and web projects has family connetions with Peru. His wife is from Lima, and they usually spend (pre-pandemic) 2-3 months each year in that country.
She tells me that because there is no real viable opposition, Pedro Castillo will win the election, and he will quickly implement their far-left progressive agenda.
More News On Peru's Presidential Election
Top Peru Presidential Candidate Vows to Curb Foreign Firms 'Looting' Mining Wealth -- US News and World Report/Reuters
Peru Leftist Candidate Pledges to Seize Foreign Company Profits -- Bloomberg
Will Peru Get on the Marxist Path? -- WSJ
Peru's Presidential Election Will Pick Country's 5th Leader In 5 Years -- NPR
