Throughout the history of humanity, technological advances have driven different radical transformations in the material and social conditions of production. We are currently witnessing a new phase in the transformation of the global economy, the Fourth Industrial Revolution, which centers on the digitization of the manufacturing sector and is driven by surprising increases in … [Read more...] about Industry 4.0—Manufacturing the Future
Caribbean islands face significant competitive disadvantages in trade because of a variety of factors — including the size and nature of their economies and their geographic location, which necessitates a reliance on maritime and air transport for most of their import and export needs, with 90 percent of goods being transported by sea. At the same time, maritime transport and … [Read more...] about Short-sea shipping: A solution to Caribbean logistics challenges?
Over the last 30 years, in Latin America and the Caribbean (LAC), preferential trade agreements (PTAs) were the instrument of choice for moving toward more integrated markets. Although PTAs were successful in helping countries to move beyond the limitations of earlier, more inward-looking integration initiatives, their proliferation led to a regulatory architecture that has not … [Read more...] about Latin American integration: an insurance policy against uncertainty on global market access
As is described in detail in the half-yearly update to Trade Trend Estimates — Latin America and the Caribbean, the region’s exports grew at a year-on-year rate of 10.6 percent in the first quarter of 2018. This represents a downturn in comparison with the average growth of 11.9 percent of 2017, which marked the end of four continuous years of contraction. Growth in Latin … [Read more...] about Growth Slowdown: The impact of external risks
Latin America regional integration can be characterized by the co-existence of multiple trade agreements: there are 33 of these in total, their membership is limited in scope, and they generally act as separate silos which lack important interconnections between them. Common sense indicates that while this “spaghetti bowl” of agreements might encourage production linkages … [Read more...] about The Spaghetti Bowl and International Supply Chains