Term Paper on "Comparative Politics Development in Emerging Economies of Latin American Countries"
Term Paper 12 pages (3903 words) Sources: 6
[EXCERPT] . . . .
Economies of Latin American countriesComparative Politics
Latin America includes conceptually Central America, Mexico, the Caribbean and South American countries. In this culture is home to around 500 million people who speak mainly Spanish and Portuguese. The largest metropolis in Latin America is Mexico City with around 19 million.
Among the ten largest cities in the world belongs to the Brazilian metropolis of Sao Paulo and the Argentine capital Buenos Aires. In Latin America, according to studies by the World Bank, especially in Brazil, the country is in a dynamic economic growth of around five percent a year. Many countries in Latin America will benefit because of the good relations with China from the economic boom of the People's Republic.
China has now replaced the U.S. As the most important trade partner of Brazil. Until the turn of the millennium, the U.S. was the main trading partner of many countries in Latin America. Care in countries like Brazil, Argentina, Chile or Costa Rica, the close economic relations with China, the growth is greater than in other Latin American countries. Many Latin American countries organize themselves increasingly in business organizations. The new Banco del Sur, which was founded in 2009, is in the development process and has members from countries such as Venezuela, Brazil, Argentina, Paraguay and Bolivia. Among other things, the Bank of the South will give financial aid to weak economies in the Member States.
In emerging countries like Argentina and Brazil are now made large direct investments. Germany is in the list of direct investment in Brazil ranks 6th The U.
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Background
In Brazil, the main industry, the services sector with approximately 66% (2010). The agriculture and forestry in Brazil makes from only about 5.5%. Among the major economies in South America includes Chile. Chile has traditionally had good trade relations with Germany and the EU. The EU is the most important trade partner of Chile's exports. There is a free trade agreement with China, which has simplified the bilateral economic relationship. The export of Chile is the raw copper. Half of Chile's export volume accounts for the precious metal. Foods are also important export commodities, which account for only about 11% of export volume.
The leading economies in Latin America are Mexico. Mexico is among the emerging economies of Central America and was mainly due to the financial crisis in 2008/09 has been drawn economically hard hit. Mexico has traditionally had the closest economic relationship of Latin American countries to the United States. Mexico sees himself in self-understanding as an industrial nation. Very important is the trading of energy commodities. The petroleum industry is the largest export industry in Mexico. In Mexico City have some of the largest energy companies in Latin America as Comision Federal de Electricidad, or Petroleos Mexicanos. Due to the limited resources of petroleum and natural gas, the government has in recent years set up funding to new industries and slippers Mexico less dependent on oil to make. Mexico must be mainly due to the vulnerability of the economy are working, as the international competitiveness of the transport infrastructure or the rule of law.
Mexico has lowered in recent years as the import duties. An important issue not only in Mexico is education. In the formation scenarios of many Latin American countries, many young people are excluded from normal education. Most large cities in Latin America are struggling with social unrest and high crime rate.
Discussion
Even lesser-known countries like Colombia have developed well in tourism. In Colombia, luxury hotel chains like Hilton, Marriott and Hyde investments have been announced. Since 2003, visitor numbers have doubled in Colombia. Among the most popular travel destinations of the Germans are still the Dominican Republic, Cuba, Brazil or Mexico. More and more tour operators have expanded their offerings in Latin America travel segment. Above all, city trips for individual tourists are increasingly offered. In Germany there is the Latin America Initiative of German Industry and Commerce of the Federation of German Industries (BDI), who wants to improve its image in Latin America, especially in Germany.
Dynamics of economic growth
A cursory examination of the composition and quality of the dynamics of economic growth in emerging economies around the world in recent years offers several important conclusions. First, among the top three emerging market regions (Asia, Latin America and Central and Eastern Europe), the countries of Central and Eastern Europe have been the ones who have depended on foreign capital inflows, as evidenced by the huge levels current account deficit recorded by the region in recent years.
Second, among the top three emerging market regions, Latin America and Eastern European countries have accumulated a significant vulnerability in regard to the levels of overvaluation of their currencies. That's the conclusion to be drawn from the steady deterioration in net export performance in these areas in recent years. Third, in terms of long-term sustainability of the recent period of economic expansion recorded by the three emerging market regions, it is reasonable to conclude that Asia will probably prove to be the most durable, followed in turn by the Latin American and Central and Eastern Europe.
This conclusion is drawn from (a) the impressive strength of public sector financial position in Asia and Latin America in recent years, in stark contrast to emerging Europe, and (b) the distinction of Asia, among the three emerging market regions, watching as their private sector (corporate and household) experienced growth in their savings rate during this period.
Emerging countries affected by the crisis in 2009
The economic and financial crisis in 2008-2009 interrupted the momentum of growth in emerging markets. She came after a period of expansion long and strong while most countries of the three zones in Asia, America and Eastern Europe began to see signs of overheating dawn. In excluding China, growth in these areas was almost zero in 2009.
The recession imported from developed countries has achieved several channels: - Through the medium of foreign trade with the crisis, developed countries have seen domestic demand and import requirements decline drastically. The Table 1 shows that over half (and up to 73.4% in the case of China) exports from emerging countries to developed countries (countries Advanced Asian included).
In total, between the second quarter 2008 and the second quarter of 2009, the request to Latin America collapsed by 20% that of emerging Asia 15%, and the countries of Central and Eastern Europe (CEEC) of 13%. In addition, the collapse of commodity prices has hurt the country producers (mainly in Latin America and Russia), forcing them to dip into their reserves and sovereign wealth funds
Perspectives on emerging markets
Modes of public and private funding in emerging markets have also increased in the sense of a wider range of markets Financial, along with an increase in funds raised in markets, including national currency. In response to the banking crises of 1997-2001, structural reforms implemented have to restructure and consolidate the banking, open financial systems to investors foreign and strengthen supervision. Meanwhile, the importance of funding market has increased, through the emergence of new financial instruments. Not only we have seen the development of bond issues sovereign local currency (see above), but also, to a lesser extent, emissions private bonds, especially from institutions financial. In addition, the national stock exchanges have taken increasingly important in financing resident companies.
In contrast, middle-income countries experienced a smaller decline of GDP of only 3.2 points. The growth rate of emerging economies before the crisis was greater than in other economies, a dynamic that did not change after the recession and has helped to extend the perception that were more resistant to the crisis.
Globalization has become one of the 'guilty' of this situation. Contrary to some estimates, emerging economies found it difficult to decouple from the global economy and at the same time were part of the global production system, using foreign funds to finance investments and assets held abroad.
It was likely then that any significant collapse in global demand and financial centers were transmitted to countries with which they were linked. Emerging countries fall into this category. Moreover, these channels of transmission through trade and finance explained the best results from low-income countries, typically less connected to the epicenters of the crisis.
On a more optimistic, in the same way that emerging economies could not avoid the consequences of economic collapse, it is also true that grew at a faster rate after the crisis, relative to that experienced before, and the advanced countries. Our study also shows how the emerging economies began to recover sooner, thus returning to growth rates higher than the rest of countries. For evidence just look at the latest growth forecasts… READ MORE
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This paper will be turned in in turnitin.com therefore it must be complete original. It must have a minimum of 6 sources, all being either books, journal articles, online articles, websites, etc.
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“Comparative Politics Development in Emerging Economies of Latin American Countries.” A1-TermPaper.com, 2011, https://www.a1-termpaper.com/topics/essay/economies-latin-american-countries/4578931. Accessed 27 Sep 2024.
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