Embracing Economic Openness and Global Integration to Address Slow Growth and Development
The international context appears complex, with slow global progress, geopolitical divisions, and lingering pandemic effects. Rising global funding costs challenge emerging economies, and the Israel-Hamas conflict adds to global uncertainties. As policymakers anticipate encountering external headwinds rather than favorable conditions, the focus should shift away from relying on historical patterns of external factors to drive growth and should instead explore new opportunities. This presents a significant opportunity for Latin America and the Caribbean to enhance its trade links with emerging markets and substantially liberalize its economies, fostering integration with developed nations. This LMV Regional Report examines potential pathways for LAC countries to strengthen their trade partnerships with key economies and enhance their connections with the developed world, including the potential for OECD membership.
