This paper looks at what Latin American countries need to do in order to successfully participate in the global markets: raise and commit capital towards developing infrastructure to support transportation, shipping and travel.
This paper discusses globalization and economic marginality, defining the terms, and explaining the economic history behind the development of global markets, what effect it has had on the world and regional economies and the track record of the theory that increasing globalization will raise the standard of living for those in developing countries, with focus on Latin America.
“Free markets and capitalism have, since their earliest stages, been a revolutionary international force: at its highest and best, they offer opportunities and an increased standard of living, and at its worst can cause exploitation and marginalization of countries and people. Every discussion of the global economy must include reference to relations amongst national economies and states, generated through the uneven development of various constituencies and the tensions involved in integration and competition, and those involved in integration and assertions of sovereignty. (Monthly Review, July-August 1999.)
Advocates of free trade argue that growing economic prosperity worldwide owes much to the increase and liberalization of trade. It encourages improved productivity, increased access to technology and better quality products and services. Between 1950 and 1998, global exports increased by a factor of 18, while global output increased six and a half times. This year, the growth in world trade is projected to increase by 6 to 7%, up from 4% in 1999-2000. (African Business, February 2001.)”
Advocates of free trade argue that growing economic prosperity worldwide owes much to the increase and liberalization of trade. It encourages improved productivity, increased access to technology and better quality products and services. Between 1950 and 1998, global exports increased by a factor of 18, while global output increased six and a half times. This year, the growth in world trade is projected to increase by 6 to 7%, up from 4% in 1999-2000. (African Business, February 2001.)”