
P. Yakovlev (petrp.yakovlev@yandex.ru),
Institute of Latin American Studies, Russian Academy of Sciences, 21/16, B. Ordynka Str., Moscow 115035, Russian Federation;
Plekhanov Russian University of Economics, 36, Stemyannyi Per., Moscow 115054, Russian Federation
Abstract. The so-called “golden decade” (2003–2013) in Latin America, marked by relatively high GDP growth, a buildup of foreign trade volume, expanding domestic market and rising living standards, rapidly became history thanks to years of recession, sluggish growth and deterioration of economic conditions for the majority of the population. After the failures of neo-liberal experiments of 1990s, the populist projects that established the matrix of social development in Argentina, Brazil, Venezuela, Nicaragua, Ecuador and other countries of the region in the first decade of the 21st century also failed. Those who ruled these regimes demonstrated incompetence which caused an economic stupor and a serious social trauma to people of the Latin American republics. To these negative phenomena there should be added the domestic political turmoil, particularly, loud corruption scandals and the removal of acting heads of State from power, as well as increased foreign competition in the region. In addition, on the outer perimeter, the complexity of the situation is compounded by the fact that Latin America (with a few exceptions confirming the rule) has not been able to receive a maximum dividend from the globalization process, as China, India, the Republic of Korea, South-East Asia and some European States did, but fully suffered the shock of external effects: drops of prices on world commodity and food markets, financial disasters, consequences of “trade wars”. For nearly two decades, Latin America has been living under conditions of structural crisis of varying intensity, the essence of which is characterized not only by strong fluctuations in the rate of GDP growth and sharp changes on commodity and financial markets, but also by a deep transformation that has engulfed the economy, politics, social sphere and the scope of external relations of the regional countries. However, the process of these changes is not of a steady character, is marked by bends and intermittent periods of stagnation, weakening the region’s position in the global economy. In an effort to reverse this situation and take the path of steady growth, the search for opportunities to give an impetus to the socio-economic development has intensified in Latin America.
Keywords: Latin America, structural crisis, populism, industrial policy, the United States, China, international competition, growth strategy
REFERENCES
1. IMF. World Economic Outlook: Challenges to Steady Growth. October 2018. Washington, 2018.
2. Fukuyama F. Falling Behind. Explaining the Development Gap between Latin America and the United States. London, Oxford University Press, 2008. 336 p.
3. Yakovlev P.P. Chto tormozit razvitie Latinskoi Ameriki? [What hampers the development of Latin America?] Latinskaya Amerika, 2017, no. 5, pp. 97-103.
4. Yakovlev P.P. Pered kakimi vyzovami stoit Latinskaya Amerika? [What are the challenges that faces Latin America?] Latinskaya Amerika, 2017, no. 1, pp. 5-21.
5. BP Statistical Review of World Energy. June 2018. Available at: https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2018-full-report.pdf (accessed 12.01.2019).
6. Diaz-Canel defiende ALBA-TCP como espacio de concertacion de la izquierda latinoamericana. 14 de diciembre de 2018. Available at: http://albatcp.cubaminrex.cu/article/diaz-canel-defiende-alba-tcp-como-espacio-de-concertacion-de-laizquierda-latinoamericana (accessed 11.01.2019).
7. Yakovlev P. P. “Mul›tilatinas”: transgranichnyi ryvok latinoamerikanskogo biznesa [“Multilatinas”: transboundary jerk of Latin American business]. Latinskaya Amerika, 2013, no. 6, pp. 51-66.
8. UNCTAD. World Investment Report 2018. Investment and New Industrial Policies. United Nations, New York and Geneva, 2018. P. 186.
9. CEPAL. Balance Preliminar de las Economias de America Latina y el Caribe. 2018. Naciones Unidas, Santiago, 2018.
10. Argentina Macroeconomic Outlook. Septiembre 2008. Available at: www.econometrica.com.ar (accessed 10.01.2019).
11. Yakovlev P.P. Hronicheskaya bolezn’ argentinskoi ekonomiki [Chronic disease of the Argentine economy]. Latinskaya Amerika, 2018, no. 10, p. 10-24.
12. Kanenguiser M. Advierten incipientes sintomas de recesion en la economia. La Nacion. Buenos Aires, 15.05.2012.
13. CEPAL. Estudio Economico de America Latina y el Caribe. 2016. Argentina. Available at: http://repositorio.cepal.org/(accessed 07.01.2019).
14. Yakovleva N.M. Argentina: perehod k “staroi norme”. Itogi prezidentskikh vyborov 2015 g. [Argentina: transit to the “old normal”. The results of the presidential election, 2015]. Latinskaya Amerika, 2016, no. 2, pp. 35-49.
15. Yakovleva N.M. Latinskaya Amerika: prezidentskaya vlast’ i oppozitsiya v XXI veke [Latin America: Presidential Power and Opposition in XXI century]. Kontury global’nykh transformatsii: politika, ekonomika, pravo, 2018, no. 3, pp. 166-184.
16. Council of the Americas Symposium and BRAVO Business Awards. November 2, 2018. Available at: https://www.as-coa.org/council-americas-symposium-and-bravo-busuness-awards (accessed 11.01.2019).
17. No se lo pierda: CAF reune a 500 lideres de America Latina para debatir sobre productividad ó innovacion. 7 de Noviembre de 2018. Available at: https://www.americaeconomia.com/ (accessed 04.01.2019).
18. OCDE/CAF/CEPAL. Perspectivas economicas de America Latina 2018. Repensando las instituciones para el desarrollo. Paris, Editions OCDE, 2018, pp. 19-20.
19. Malamud C. La presencia global de America Latina. 22.12.2014. Available at: https://www.printfriendly.com/p/g/ULsUXa (accessed: 11.01.2019)
20. Cuartero J. A. Los retos de A. Latina en infraestructura para 2019: hacer mas con menos. 28 de diciembre de 2018. Available at: https://www.americaeconomia.com/ (accessed 10.01.2019).
21. Goya Leon D. Politica industrial: Que es, por que es necesaria, y su pasado, presente y futuro en Chile. Mayo de 2014. Available at: https://mpra.ub.uni-muenchen.de/64881/1/MPRA_paper_64881.pdf (accessed 11.01.2019).
22. CEPAL. Panorama Social de America Latina. 2018. Santiago: Naciones Unidas, 2019.
23. Yakovlev P.P. Geopoliticheskii razvorot stran Latinskoi Ameriki [The geopolitical turn of Latin America]. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2014, no. 7, pp. 55-66.
24. ITC. Trade statistics for international business. Available at: https://www.trademap.org/Bilateral_TS.aspx?nvpm=1-076||156||TOTAL|||2-1|1-1|2-1|1-1|1 (accessed 10.01.2019).
25. CEPAL. Explorando nuevos espacios de cooperacion entre America Latina y el Caribe y China. Santiago: Naciones Unidas, 2018.
26. Quinta Central Nuclear Argentina. 6 Junio 2017. Available at: http://www.invap.com.ar/es/la-empresa/sala-de-prensa/ (accessed 23.10.2018).
27. Toro M. China y Venezuela firman 28 acuerdos de cooperacion. El Universal, Caracas, 15.09.2018.
28. Venezuela y China firman 28 nuevos acuerdos. 14.09.2018. Available at: http://www.americaeconomica.com/ (accessed 20.12.2018).
29. Yakovlev P.P. USMCA: perezagruzka zony svobodnoi torgovli v Severnoi Amerike [USMCA: restart of the zone of free trade in North America]. Latinskaia Amerika, 2018, no. 12, pp. 6-16.
30. Clausula en pacto USMCA disuadiria acuerdo comercial de China con Canada y Mexico. 3 de Octubre de 2018. Available at: https://www.americaeconomia.com/ (accessed 07.12.2018).
Registered in System SCIENCE INDEX
No comments