1945

There is no need to point out the predominating influence which foreign trade has had and still has upon cyclical fluctuations in Latin America and through them upon the continent’s economic growth. Ever since this region entered the international market about the middle of the last century, sharing in the process of capitalist development, its exports have tended to rise continuously. There has always been a very close link between the strength of this tendency and the rate of economic growth of these countries.

Related Subject(s): Economic and Social Development
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