The COVID-19 pandemic is the most challenging global crisis since the postwar, for its public health dimension as well as its economic consequences. International trade is one of the channels of contagion of the economic crisis that will strongly affect Latin America and the Caribbean (LAC). This begs several questions. Why is this crisis different? What are the channels of … [Read more...] about How exposed is Latin America to the trade effects of COVID-19?
The coronavirus pandemic has the potential to wreak havoc on Latin America and the Caribbean’s (LAC) trade and the integration, making it vital for governments to take appropriate measures to reduce its impact on the economy and life of its citizens. Over the last 100 years, there have been seven global pandemics (Spanish flu, Asian flu, Hong Kong flu, H1N1, SARS, MERS, and … [Read more...] about The impact of coronavirus trade and integration: what to do?
The new North American free trade agreement, now titled the United States–Mexico–Canada Agreement (USMCA), is expected to enter into force in the coming months. Together, the three countries constitute the largest economic integration and trading bloc in the Western Hemisphere. The new agreement contains numerous provisions covering goods, technologies, and other advances in … [Read more...] about 7 key new features of the new North American Trade Agreement
A recent IDB report found that while trade liberalization resulted in increased firm and labor productivity in Latin America and the Caribbean over the last 30 years, boosting economic growth, it did not create as many new jobs or reduce inequality as expected. Liberalization in the 1980s and 1990s resulted in moderate negative impacts on labor markets. For example, a 2004 … [Read more...] about How Trade and Training Can Boost Employment in Latin America
A recent Inter-American Development Bank report, Trade Trends Estimates: Latin America and the Caribbean 2020, reveals that the value of exports from the region contracted by 2.4% in 2019 after two years of robust growth. The report forecasts that the downturn in exports will continue in the coming months due to slowing global demand, volatility of commodity markets, and … [Read more...] about Outlook for Latin American exports in 2020