New World Economic Development Trends and Latin America

247
DOI: 10.20542/0131-2227-2016-60-4-48-60
L. Klochkovskii, Institute of Latin America Studies, Russian Academy of Sciences, 21, Bol'shaya Ordynka Str., Moscow, 115035, Russian Federation; Plekhanov Russian University of Economics, 36, Stremyannyi per., Moscow, 115054, Russian Federation (v.semenov@ilaran.ru

Abstract. There are substantial changes in the evolution of world economy and world economic relations. The growth rates of international trade have diminished two-fold, the prices for oil and other commodities have fallen, and the competition on world markets has sharpened greatly. These new trends complicate fundamentally external conditions for the economic development of peripheral regions, especially Latin America. Latin American countries have reached a phase of considerable economic deceleration. Under these circumstances, there is an urgent need for reconsideration of key conclusions made by some Russian experts on the possibilities of the future economic and social growth of Latin America. The author examines the most discussed aspects of the Latin American modern economic situation – the deepening technological gap and slow rates of technological progress, the limited role of internal economic motive forces, the conservation of foreign economic dependence. The future of Latin America’s economic development is uncertain in many respects and will depend greatly on foreign economic conditions. The new world balance opened important additional possibilities for Latin America on world markets. China has converted into the second largest economic partner of the region. But there is a number of complicated problems in their relations that need an urgent regulation. At the same time, the strategic task for Latin America consists in finding of effective ways for further broadening of economic relations with the United States in terms of equality and mutual benefit. 

Keywords: world economy, international economic relations, Latin American economy, economic deceleration, world balance, future of economic development 


Registered in System SCIENCE INDEX

For citation:
Klochkovsky L. New World Economic Development Trends and Latin America. World Eсonomy and International Relations, 2016, vol. 60, no. 4, pp. 48-60. https://doi.org/10.20542/0131-2227-2016-60-4-48-60



Comments (0)

No comments

Add comment







Indexed

 

 

 

 

Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies

 

Current Issue
2025, vol. 69, No. 4
Topical Themes of the Issue:
  • Entrenchment of Neo-Protectionism in Global Economy of 21st Century 
  • Institutional Dynamics of Fiscal Integration in the European Union
  • Factors of Latin American Countries’ Interest in BRICS
  • “China: Bitter Dish with Complex Garnish”
Announcement

Dear authors of the journal!

Please note that the author's copies of the issues in which your texts are published are kept in the editorial office for no more than one year. After this period expires, the editorial office has the right to dispose of unclaimed copies at its own discretion.

 

Submit an Article
INVITATION FOR PUBLICATION
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.