The Dynamics Of Trade Integration And Fragmentation In Lac
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The Dynamics of Trade Integration and Fragmentation in LAC
Author: Rafael Machado Parente
language: en
Publisher: International Monetary Fund
Release Date: 2024-12-13
Trade barriers and poor infrastructure play an important role in limiting trade integration in Latin America and the Caribbean (LAC). Closing half of the infrastructure gap between LAC and advanced economies could lift exports by 30 percent. Reducing import tariffs could boost LAC’s trade, but its responsiveness is lower than in other EMDEs, particularly in the long run, due to the region’s specialization in agricultural exports with inelastic demand and supply constraints like growing cycles and weather conditions. Amid deepening global trade tensions, LAC is well placed to withstand a mild trade fragmentation scenario, in which trade barriers are erected only among large economies. However, the region’s output losses could be sizable in more extreme scenarios, where the global economy splinters into competing economic blocs and LAC loses access to important markets. Boosting trade, including regional trade, could pay a double dividend of lifting growth in the region while mitigating risks from global fragmentation.
Interregionalism across the Atlantic Space
This book focuses on interregional relations across the Atlantic and the possible evolution of a new, distinctive Atlantic space for international relations. It provides a comprehensive insight into the overlapping linkages of interregionalism in the wider Atlantic space. Additionally, it raises the question of relevance, currently the main question in this field of research: Is interregionalism important because it brings about something new that really matters or is it simply a (perhaps unavoidable) by-product of regionalism? The book conducts an analysis of six interregional relations criss-crossing the Atlantic space, accounting for the multitude of interregional connections within a potential Atlantic macro region and analysing the differences, conflicts and convergences between regional organizations. It engages with the issue of agency in interregional relations, and argues that interregional processes and agendas are always driven and constructed by certain actors for certain purposes.
China and Latin America in Transition
This volume explores the policy dynamics, economic commitments and social impacts of the fast evolving Sino-LAC relations. China’s engagement with Latin America and the Caribbean has entered into an era of strategic transition. While China is committed to strengthening its economic and political ties with Latin America and the Caribbean, Latin America as a bloc is enthusiastically echoing China’s endeavor by diverting their focus toward the other side of the ocean. The transitional aspect of China-LAC ties is phenomenal, and is manifested not only in the accelerating momentum of trade, investment, and loan but also in the China-CELAC Forum mechanism that maps out an institutional framework for decades beyond. While Latin America is redefined as an emerging priority to the leadership in Beijing, what are the responses from Latin America and the United States? In this sense, experts from four continents provide local answers to this global question.