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Javier E

The Most Important Alliance You've Never Heard Of - Moisés Naím - The Atlantic - 0 views

  • the presidents of Chile, Colombia, Mexico, and Peru met with little fanfare in Cartagena last week to seal an economic pact launched in 2012. They call their project the Pacific Alliance, and it will soon include Costa Rica
  • The four founding members are the most successful economies in Latin America; they boast the region's highest economic-growth rates and lowest inflation rates. Together, they represent 36 percent of the region's economy, 50 percent of its international trade, and 41 percent of all incoming foreign investment. If the Alliance were a country, it would be the world's eighth-largest economy and seventh-largest exporter. Its members lead the lists of the most competitive economies in Latin America and those where it’s easiest to do business.
  • the Pacific Alliance has already yielded more results in its 20 months of existence than similar initiatives that have been around for decades. The four countries have eliminated 92 percent of all import tariffs among them. Chile, Colombia, and Peru have linked their stock markets so that a company listed in one of the exchanges can be traded in the other two. Mexico is expected to follow suit this year, meaning this integrated stock market will rival that of Brazil as the largest in Latin America. The four countries have eliminated the need for business and tourist visas for visiting nationals of bloc members. In a break with tradition, the joint communiqués of Alliance presidents tend to be brief and concrete in terms of goals, timelines, and roadmaps.
Javier E

Latin Lovers' Quarrel - By James Traub | Foreign Policy - 0 views

  • the big news out of Cartagena -- outside of the Secret Service wing of the Hotel Caribe, that is -- was the united front that Latin American countries put up against the United States on several big issues.
  • whether Cuba should be admitted to the next summit, in 2015, which the United States and Canada opposed and all 30 Latin American countries, both left-wing bastions like Ecuador and traditional U.S. allies like Colombia, favored, thus bringing the meeting to an end without a planned joint declaration
  • The idea of an "American camp" in Latin America has been an anachronism for some while, but this became glaringly clear in Cartagena. "We need them more than they need us," as Christopher Sabatini, senior director of policy at the Americas Society, puts it. The United States remains the region's largest trading partner, the source of 40 percent of its foreign investment and 90 percent of its remittances. U.S. foreign aid still props up shaky countries like Colombia and Guatemala. But trade with both China and Europe has grown sharply over the last decade. And both big economies like Brazil and Argentina, and smaller ones like Chile and Peru, have experienced solid growth at a time when the United States has faltered. "Most countries of the region view the United States as less and less relevant to their needs,"
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  • The big issues that divide the United States (and let's not forget, Canada) from its Latin American allies are Cuba, drugs, and immigration. On a trip to Latin America last year, in fact, Obama promised Salvadoran President Mauricio Funes that he would push immigration reform through Congress -- an effort he later abandoned. But for all their recent maturation, Latin American countries are affected by U.S. domestic issues in a way that no other region could be. Latin America therefore suffers from the paralysis of U.S. domestic politics as Europe or Asia does not.
  • even Washington's closest allies in the region have lost patience with U.S. politics
  • This year, Guatemalan President Otto Pérez Molina, a former general elected as a hard-liner, dramatically reversed course and spoke up in favor of drug legalization. This earned him extraordinary visits from both U.S. Vice President Joe Biden and Homeland Security Secretary Janet Napolitano. According to Eduardo Stein, the former vice president of Guatemala, Biden said that the United States was eager to discuss drug reform, just not at the summit, while Napolitano reportedly plainly said, "Don't think of raising the issue at the summit." Pérez then went ahead and called a meeting of regional leaders, who could not agree on an alternative set of policies but decided to raise the issue in Cartagena. Pérez later said that drug policy was the only issue discussed at the summit's final closed-door session.
Javier E

How Brazil's China-Driven Commodities Boom Went Bust - WSJ - 0 views

  • If the biggest economic story this century was China’s rise, Brazil was uniquely poised to benefit from it. Rich in iron ore, soybeans and beef, not to mention oil, Brazil was positioned as a supplier of many things China needed. Its annual trade with China, only around $2 billion in 2000, soared to $83 billion in 2013. China supplanted the U.S. as Brazil’s largest trading partner.
  • Brazil fell under what some economists call the “resource curse,” a theory describing how countries with abundant natural resources sometimes do worse than countries without them. The idea is that the money from commodity sales can lead to overvalued currencies and shortsighted policy-making, leaving such countries badly exposed when the resource boom finally ends.
  • “Unfortunately, the history is that commodity-dependent economies do not catch up with the U.S.,” said Ruchir Sharma, head of emerging markets at Morgan Stanley Investment Management. “Not just oil producers. More countries end up being poorer, compared with the U.S., after they find a commodity than catch up.” Using data going back to 1800, he said commodity-dependent economies typically grow for a decade, then spend as long as two decades wallowing or slipping back.
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  • Buoyed by China trade, nationalist-minded politicians launched a foreign policy meant to reduce the role of the U.S. in Latin America. Brazil blocked a U.S. free-trade initiative for the Americas. They teamed with Venezuela to create a regional security council to supplant one that included the U.S. The foreign minister worked from an office with a huge map of the world upside down, offering the message that the era of emerging markets was at hand. But the world wasn’t upside down. While Brazil tied itself more closely to anti-American governments like Venezuela, Argentina and Iran, some regional neighbors—Chile, Colombia and Peru—went around Brazil and cut individual free-trade deals with the U.S.
  • Anticipating commodity sales, the government spent increasingly heavily. Government banks supplied Brazilians with easy credit. Brazil subsidized energy bills, issued cheap loans to big companies with government ties and built stadiums to host global events such as the 2014 World Cup and the 2016 Olympics.
  • Meantime, Brazil produced far less oil than predicted. Production actually shrank in some years, as Petróleo Brasileiro SA, PBR 12.80 % known as Petrobras, struggled with the enormous task of developing oil fields in extremely deep water.
  • Commodities’ support of the economy allowed Brazilian leaders to put off addressing certain problems that had long bedeviled the nation, such as a political system that tended to breed corruption and a bureaucracy that stymied business innovation. “Brazil became complacent because of the intoxicating effects of China trade,”
Bowman Benge

Lluvia pone en emergencia a 23 ciudades - 0 views

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    I think this has do with negotiations over two areas -- I would think some coastal areas or ports-- that has caused contention between Chile and Bolivia in the past
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    Brazil declared a state of emergency in 23 cities
Javier E

You have to have AAFTA - 0 views

  • former USTR and deputy Secretary of State Robert Zoellick wrote an essay proposing that the United States consolidate our trade diplomacy in the region: This year President Bush and the Democratic-led Congress should launch a new Association of American Free Trade Agreements (AAFTA). The AAFTA could shape the future of the Western Hemisphere, while offering a new foreign and economic policy design that combines trade, open societies, development and democracy.
  • U.S. global strategy must have a hemispheric foundation. Successful and sustainable international strategies must be constructed across administrations. Ronald Reagan called for free trade throughout the Americas, opened U.S. markets to our Caribbean neighbors, and completed an FTA with Canada. George H.W. Bush completed negotiations for a North American FTA, offered trade preferences to the Andean countries, negotiated peace in Central America, and freed Panama. Bill Clinton secured the passage of Nafta, launched work on a Free Trade Area of the Americas, and backed Plan Colombia. George W. Bush enacted FTAs with Chile, the five states of Central America and the Dominican Republic. He also completed FTAs with Colombia, Peru and Panama. If Congress passes these agreements, the U.S. will finally have an unbroken line of free trade partners stretching from Alaska to the tip of South America. Not counting the U.S., this free trade assembly would comprise two-thirds of both the population and GDP of the Americas. The AAFTA would draw together these 13 partners to build on the gains of free trade. It could also include the island states of the Caribbean Basin Trade Partnership Act. Starting with a small secretariat, perhaps in Miami, the AAFTA should advance hemispheric economic integration; link development and democracy with trade and aid; improve working and environmental conditions; and continue to pursue the goal of free trade throughout the hemisphere. It might even foster cooperation in the WTO's global trade negotiations. The AAFTA might be connected to an academic center, which could combine research and practice through an association among universities in the Americas.... The U.S. cannot afford to lose interest in its own neighborhood.
  • in many ways, Zoellick is simply proposing a political trade with our FTA partners -- deeper economic integration in return for adding on stringent labor and environmental standards.
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