Core Viewpoint - The economic plan of Chile's newly elected president, Gabriel Boric, focuses on regulatory facilitation, tax reform, and fiscal adjustment to create and protect jobs while emphasizing the importance of private sector integrity [1] Group 1: Regulatory Facilitation - The government aims to address bottlenecks in land use and environmental assessment systems to promote regulatory ease [1] Group 2: Tax Reform - The plan includes a reduction in the corporate income tax rate for medium and large enterprises from 27% to 23%, and a further reduction to 20% for companies hiring workers at risk of informal employment [1] Group 3: Fiscal Adjustment - The government intends to implement fiscal adjustments to streamline national finances, with a fundamental goal of job creation and protection [1] Group 4: Private Sector Integrity - The economic advisor urges the business community to uphold corporate culture and the role of the private sector, warning against actions that could lead to scandals or collusion that would harm the new government [1]

Core Viewpoint - UBS forecasts that the US economy is expected to maintain a growth rate of around 3% over the next few quarters, supported by three main pillars: strengthened capital expenditure, structural improvements in the labor market, and adjustments in fiscal policy [1][2] Group 1: Capital Expenditure - Capital expenditure has shown significant growth of 13%-14% in the first half of the year, driven by tax incentives such as 100% expensing for capital expenditures and construction [1] - The efficiency of capital formation is seen as a key factor in driving productivity growth, with an expected annual productivity growth rate stabilizing at around 2% or slightly lower [1] Group 2: Labor Market - The labor supply growth is projected to stabilize in the range of 0.7%-0.8%, benefiting from improved legal immigration policies and increased participation rates among older individuals [1] - Structural adjustments in policies, such as the elimination of tip taxes and overtime taxes, are creating positive incentives for the labor market [1] Group 3: Fiscal Policy - The US fiscal budget showed a surplus of approximately $20 billion in June, an improvement of nearly $90 billion compared to the same period last year [1] - The withdrawal of student loan forgiveness is expected to save about $150 billion in fiscal spending this year, providing financial space for labor market expansion [1] Group 4: Counterarguments to CBO Predictions - UBS refutes the pessimistic forecasts of the Congressional Budget Office (CBO), arguing that actual productivity growth is closer to 2% and labor growth can reach 0.7%-0.8%, which together support the 3% GDP growth [2] - The report criticizes the notion that tariffs have a secondary effect on inflation, stating that most tariff costs have been absorbed by exporters, with only a one-time adjustment reflected in domestic price levels [2] Group 5: Infrastructure Investment - The government is accelerating infrastructure investment by simplifying building permit processes and implementing 100% expensing policies for factories and data centers, addressing long-term weaknesses in US construction investment [2] - The expected reduction in the fiscal deficit is anticipated to be significantly smaller than last year's levels, aided by improvements in budget surplus and spending optimization [2]

Core Viewpoint - Argentine President Milei stated that if external shocks intensify, the government will further adjust its fiscal policy by reducing public spending [1] Group 1 - The Argentine government is prepared to implement additional fiscal adjustments in response to potential external economic pressures [1]