Dismantling stagnation in Mercosur
Before the 1990s, economic integration in Latin America was overshadowed isolation mechanisms placing barriers between neighboring countries in hopes of developing domestic growth. By the turn of the last decade in the 20th century, more countries became increasingly interested in the potential benefits of deeply integrating nations through cross-border trading. The countries of the Southern Cone of South America courageously took modern economic initiatives. Since then, the region has created mix results of whether their choices have liberated the region of trade barriers or created a fortress all on their own. In this paper I will be focusing on the customs union Mercosur by detailing its creation, discussing the critical events which have contributed to the group’s stagnation, and assessing the group’s current role in the global economy.
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