This thinking is at an early stage. But it is also attractive for business, as rising and fluctuating commodity prices combined with environmental stresses on resources starts to affect decision making and bottom line projections. A recent report on Resource Futures from Chatham House, for example, shows that in the decade 2000-10, the price volatility of major commodities increased by more than factor six. No business, investor or government likes increasing volatility in its input prices.
For these reasons, a circular approach could allow the newer wave of fast growing economies around the world to leapfrog the west's historically inefficient approach to fuelling growth. This could offer a powerful weapon to Latin America's finance ministers, alongside other innovative conservation initiatives, to grow the economy of the region while preserving its unique ecological assets.
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