Latin America Challenges

614 Words3 Pages
Following a decade of high development thanks to the commodity super cycle, Latin America has lost its glow: economic advancement is near zero, equality gains have slowed down, and the political landscape is changing. Although a few nations have started down the path of structural change required to raise efficiency and competitiveness, it is clear that the recent slowdown of economic progress has made the reform process more difficult. When growth slows or stalls, societies tend to shy away from processes of continual, systematic reform, despite the promise of positive results in the forthcoming time frame. At times of economic instability, the short term rules and attention to the medium/long term fades. Preventing this from happening is the main challenge facing Latin America today. The World Bank is aiming to help countries rekindle growth and solidify hard-won social additions. Their principle focus is on laying the foundation for economic recovery, improving infrastructure, investing in human capital and protecting the poor. The Global Agenda Council on Latin America strives to work collaboratively to perform a critical analysis of the current agenda of economic changes in the region, and to identify key elements leading to more modern and efficient economies. Through its work, the council plans to survey the current state of…show more content…
China is now one of the main trading partners of several countries in the LAC region, and an increasingly important source of direct investment and bilateral funding. In 2009, 7% of Latin America's exports were to China and 5% of China's exports went to Latin America. China and Latin America have experienced an impressive trade boom since 2000, increasing trade 22-fold, and today, China is the largest trading partner for Brazil, Chile and Peru. Ties between Latin America and China are now evolving well beyond just trade and moving into programs of cultural
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