Chapter 158: That Time I Created an Economic Bloc in South America (2)

TL: Skye

It was a well-known fact that Yu-jin was a president on the rise in Latin America.

And with good reason. In less than seven years, he had raised San Marcos from one of the poorest countries in the world to the level of a middle-income nation.

Its industrial foundation was not flimsy, either.

Beginning with agriculture, fisheries, and livestock farming, represented by Tortilla Farm and seafood distribution, he had built up light industry through the private sector and heavy industry through Tortilla Construction, Tortilla Energy, and Tortilla Automobile, which operated the car assembly plant.

On top of that, he had completed a solar power plant and added a nuclear power plant, steadily securing the electricity that formed the foundation of industry.

Nor had he achieved these results by grinding the people down.

The agricultural and distribution revolutions had lowered food prices, free education and school meals had given people hope for the future, the revitalized private economy had created jobs on a massive scale, and the tourism industry had also become a success.

His accomplishments were nothing short of legendary.

There was a reason the people of San Marcos called Yu-jin the Superhuman on a White Horse.

But before Yu-jin's rise, there had been another Latin American politician regarded as a superhuman on a white horse... or perhaps not quite that, but certainly one who drew attention: Nayib Bukele, president of El Salvador.

His political career had been nothing short of shocking.

Born the son of a wealthy businessman, he became mayor of the small city of Cuscatlán at the age of thirty-two, then mayor of San Salvador, the capital of El Salvador, at thirty-five.

He succeeded in reducing San Salvador's crime rate to sixteen percent, but clashed with his party and was expelled.

But he did not give up.

He immediately founded a party called Nuevas Ideas and sought the presidency, but when obstruction from the two parties that dominated Salvadoran politics kept him from running, he joined the minor right-wing party Grand Alliance for National Unity, or GANA, entered the 2019 presidential election, and won the presidency with a majority of the vote.

He had completely shattered the entrenched two-party system of the FMLN and ARENA, which had ruled El Salvador for thirty years.

What followed was an unprecedented series of moves.

His first presidential term.

In 2022, he declared a state of emergency in the name of eradicating the gangs.

By permitting arrests and detention without warrants, he imprisoned tens of thousands, and the murder rate, once among the highest in the world, plummeted, earning him overwhelming public support.

The process caused innocent citizens to suffer and sparked serious allegations of human rights abuses, but the people of El Salvador still supported him overwhelmingly.

In 2021, he drew worldwide attention with the radical economic experiment of adopting Bitcoin as legal tender. After Nuevas Ideas, the party he had founded, won a legislative majority in that year's general election, he dismissed Supreme Court justices who were critical of him along with the attorney general, effectively bringing the legislature and judiciary under his control.

He also circumvented El Salvador's constitutional limit on consecutive terms by obtaining a legal interpretation that allowed reelection if he took a leave of absence six months before his term expired. Having secured his eligibility to run, he won reelection in the February 2024 presidential election with well over eighty percent of the vote, cementing the foundation for long-term rule.

El Salvador's economy also stabilized considerably during his rule.

Tourism exploded as public safety improved, bringing a surge in foreign visitors, while the eradication of the gangs gave small business owners and the domestic economy room to breathe.

Local commercial districts revived, small businesses flourished, and the domestic economy benefited. Defying the international community's pessimistic forecasts, El Salvador successfully repaid major government bonds as they matured and weathered the threat of default.

Naturally, this greatly eased international investors' concerns about Salvadoran bonds.

Of course, the challenges he faced were equally clear.

The number of people fleeing the country to escape the gangs had fallen sharply, but the flow of economic migrants heading to the United States and elsewhere to escape the underlying poverty caused by a lack of quality jobs and low wages remained a major challenge.

Although improved public safety had undeniably benefited the economic environment, growth itself had not surged enough to far outstrip growth in neighboring countries. Coupled with global inflation, soaring prices for food and daily necessities left ordinary people in considerable economic pain.

In particular, the country's weak agricultural base left it dependent on imports for much of its food and highly vulnerable to external shocks.

Under these circumstances, it was perhaps only natural for Nayib Bukele to focus on San Marcos's agricultural revolution, epitomized by Tortilla Farm.

“I've been eager to meet you.”

Bukele, who had flown over as soon as Yu-jin expressed his willingness to meet, extended his hand.

He was in his early forties, if Yu-jin remembered correctly.

He looked younger than expected.

His black beard and sharp eyes were striking, but his hand felt surprisingly soft when they shook hands.

“You came a long way. Thank you for making the trip.”

“No distance is too great to meet the great leader who created the Miracle of the Caribbean.”

“I wouldn't go that far... Ahem.”

Yu-jin and Bukele sat facing each other in the Presidential Palace reception room.

Bukele was accompanied by his foreign minister and minister of economy, while Isabella and Sophia attended Yu-jin.

Once tea had been served and greetings exchanged, Bukele was the first to get down to business.

“I'll be frank.”

Bukele set down his teacup and looked Yu-jin straight in the eye.

True to his character, his direct approach stripped away the diplomatic niceties.

“As I mentioned, we are deeply interested in Tortilla Farm.”

“I see.”

Bukele paused to catch his breath, then continued.

“As you know, El Salvador succeeded in eradicating its gangs. We arrested seventy thousand people and brought our murder rate down to one of the lowest levels in Latin America.”

Yu-jin nodded. Bukele's crackdown on the gangs had drawn worldwide attention.

“But what came next was the problem.”

Yu-jin already knew something about that as well.

“International inflation has driven up food prices, and many of our people are suffering. Our agricultural base is weak, so we depend on imports for much of our food. The rise in international grain prices hit us head-on.”

“......”

“Our economic growth still hasn't far outpaced that of our neighbors, and our young people are still leaving for the United States. We restored public safety, but if we can't solve the problem of how people make a living, we'll eventually end up right back where we started.”

Bukele gave a bitter smile.

“Frankly, feeding the people turned out to be a hundred times harder than catching gang members.”

Those words made Yu-jin's heart ache.

Starving children.

A mother feeding three children with a single bowl of bean porridge.

Old people rummaging through garbage cans.

Yu-jin remembered San Marcos from his days as a minister.

The people of El Salvador were in that same situation now.

“Mr. President.”

Bukele looked up. Yu-jin's eyes had reddened.

“We'll help you.”

“......”

“If you want everything from Tortilla Farm's designs to its operational know-how, we'll give it to you free of charge. And if you lack the funds needed to build it, we'll lend them to you.”

He meant it. With people going hungry, this was no time to worry about profit.

“No.”

But Bukele shook his head.

“We can't accept a treasure like that for nothing.”

He spoke firmly.

“Build Tortilla Farm in El Salvador for us. Handle the distribution as well. Then earn a fair profit. If we accept it for free, it will become a debt someday. Paying a fair price is better for both our countries.”

Bukele's gaze was serious.

He had not come merely to beg for help. He had come to make a deal as an equal partner.

Seeing the sense in his words, Yu-jin nodded.

“Understood. We'll do it that way.”

“I do have one request.”

“Please, go ahead.”

“Like Venezuela, we intend to use prisoners as farm laborers. But as you know, they're a very rough lot, so managing them won't be easy. Some may try to escape, and there may even be a revolt at the farm. Can you guarantee that you'll keep them under control?”

Yu-jin chuckled.

“That will be very easy for Tortilla Farm.”

“You shouldn't take it too lightly. El Salvador's gangs are criminal organizations notorious throughout the world.”

“We'll dispatch seasoned managers. They should have them completely rehabilitated within three years.”

“Just as I expected... Thank you.”

Bukele bowed his head with heartfelt gratitude.

Smiles spread across their faces as the two men shook hands.

And their discussion did not end there.

“Since our two countries are already cooperating, could we not draw up a grander plan?”

“A grander plan...?”

“Frankly, El Salvador's greatest problem is its dependence on the United States.”

Bukele sighed.

“Forty-five percent of our exports go to the United States. Imports are even worse, with more than half coming from there. We even use the dollar as our currency, so we effectively have no economic sovereignty.”

Yu-jin nodded. He was well aware of the reality faced by Latin American countries whose economies were subordinate to the United States.

“If the countries of Latin America formed an economic alliance, wouldn't we be able to reduce that dependence?”

“Are you suggesting we create an economic bloc?”

“That's right.”

An economic bloc.

Naturally, Singapore came to mind.

Because its domestic market was small, Singapore had become the hub of the economic bloc known as ASEAN and taken control of logistics and finance across Southeast Asia.

The same applied to San Marcos.

A GDP of eighty-six billion dollars and a population of ten million. On its own, it had little presence on the world stage. But unite it with Venezuela and El Salvador, and that would change.

“If San Marcos takes the lead, we will participate as well.”

Yu-jin cupped his chin as he answered.

“Venezuela is already closely linked with us economically, so it would be a natural progression for the three countries to join forces.”

The roles of the three countries took shape in his mind.

Venezuela's population of thirty million and the world's largest oil reserves. El Salvador's access to the Pacific and its connection to the American market. Add San Marcos's capabilities in energy, finance, and construction, and they could produce real synergy.

“Good. Why don't we begin by signing an economic cooperation agreement among the three countries, then expand it in stages?”

“Agreed.”

“It will be an economic bloc linking the Caribbean and Central America. What should we call it?”

Yu-jin thought for a moment before answering.

“How about the Caribbean Belt? It would signify binding the countries around the Caribbean together like a single belt.”

“The Caribbean Belt...”

Bukele rolled the name around on his tongue, then nodded.

“I like it.”

The two men clasped hands again.

After the meeting.

Once Bukele and his delegation left for their accommodations, only Yu-jin and Isabella remained in the reception room.

Isabella stood quietly, clearing away the teacups.

But her hands were trembling faintly.

‘His Excellency...’

The meeting that had just taken place was replaying itself in Isabella's mind.

First Venezuela, and now El Salvador.

They would export Tortilla Farm, establish Tortilla Foods' distribution network, and expand Tortilla Bank into the country. Then the three nations would be bound together in an economic bloc.

And San Marcos would stand at its center.

In other words.

‘He means to acquire more colonies.’

It also meant His Excellency's conquests would increase.

Thump. Thump.

Isabella's heart began to race.

Venezuela alone had left her breathless, and now El Salvador as well.

Moreover, just as Bukele had said, more countries would join the Caribbean Belt in the future.

A shudder ran through Isabella's body.

‘His Excellency is steadily advancing down the path to becoming the hegemon of Latin America.’

She had to help him.

Even if it cost her life.

Isabella picked up her phone and summoned the members of UJF.

*****

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