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Latin America and the Caribbean in the World Economy 2016

The Region Amid the Tensions of Globalization

image of Latin America and the Caribbean in the World Economy 2016

The 2016 edition of Latin America and the Caribbean in the World Economy reviews international and regional developments from a trade perspective, describing the principal global economic trends and structural changes in international trade, the main areas of trade growth and the changes these drive in the region.

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Foreign trade by Latin America and the Caribbean: Adverse conditions continue

The tensions caused by globalization and weak institutions’ inability to overcome them, analysed in the preceding chapter, have different repercussions, depending on each economy’s production and technological structures and internationalization patterns. History shows that countries’ ability to respond to international crises depends on the strength of their institutions, which determines to a great extent how proactive and effective their policies can be. There is no deterministic relationship between globalization and development that necessarily produces negative results for a country or region in the long term. The international economic system’s inherent complexity creates niches of action for nations willing to integrate into a system that is, by definition, heterogeneous and has serious imbalances of power.

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