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Latin America

The hon. Member for Islington, North (Jeremy Corbyn) seemed to think that the whole nationalisation debate was about a virility symbol and whether sovereign countries have the right to take those assets. Of course they have that right. The question is whether it is wise to deploy it. If the private sector sees assets being taken with no money being paid for them, that affects not only the minerals sector, which is directly affected, but the whole economy, because other countries will not want to invest in those economies and therefore the standard of living of those peoples suffers as a result.