Value of Spanish
We have an asset, a language: Spanish, wich connects over 400 million people around the world, and which is translated in the higher levels of trade and business presence, through direct investment among our countries. From both perspectives, the Spanish language reveals itself as a wide "economic bridge": not only within the broad American subcontinent, but also over the Atlantic, with Spain taking the lead. The common language, Spanish, enables cutting costs, in particular transaction and information costs, just like manner as a common currency does, and multiplies positive externalities in a club-like fashion; it allows markets to come closer, both culturally and psychologically, while strengthening confidence ties and being a source of social capital. In short, a common language is a requirement - as Adam Smith already understood over two centuries ago – for exchange, specialization and cooperation. Today, we would say that it is the great tool for business internationalisation.