35. What explains the fragmented nature of Latin America’s regional integration?
- relation to US hegemony dominates regionalism:
*1823 Monroe doctrine: US hegemony declared
*from 1920s real US dominance, strong interventionism during the cold war
*Organization of American State (1948): free trade, security and democracy, strong US role
*1994: Clinton's Free Trade Area of the Americas (FTAA) rejected
From 2000s fragmented regional landscape along diverse preferences on US and economic policy
*pro-US and better implementation of neoliberal agenda (NAFTA, Pacific Alliance, TPP)
*pragmatic anti-hegemonic : trade liberalization as secondary issue (UNASUR, MERCOSUR)
*radical anti-hegemonic, anti-liberal alliance : ALBA + argentina
36. What are some of the major challenges facing the economies of Latin America?
- Persistent and current challenges:
* dependence on commodity trade, stuck at low levels of global value chains.
* crime and illicit trafficking
* weak external and internal trade
* migration :
+ 20 millions migrants in the US
+ 17% of the US population is latino
+ 10 million from MEXICO (20% of workforce)
+ growing emigration
37. Compare the position of East Asia, Latin America and Sub-Saharan Africa in the global economy (including their level and record of economic development, and their position in global trade and in the core-periphery structure).
latin america is the most developed of developing countries but with the highest rates of inequality in the world.
gdp/capita stuck in middle-range since 1960s
ratio of per capita income in comparison with dev countries declines since 1800s
decline of growth since 1980s, high instability and volatility of performance
independence in the 1800s
US hegemony
relatively weak democratic institutions
trouble history of development
colonial legacy : spanish/portuguese rule does not leave behind representative institutions
fragile democracy until 1980s
military intervention in politics, populism
state-directed planning economy, import-substitution
1980s debt crisis, turn towards neoliberal economic policies
disappointment in liberalism, fragmented development strategies from the 2000s
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