Latin America showing more resilience to the global economic crisis

by Dave

China, Brazil to fuel global economic growth – International Business –

Latin America and the East Asian Tigers are lifting the world economic tide, showing more resilience to the global economic crisis than the United States and many European nations.

Such a growth path is a break from the past for Latin American and Caribbean countries, which have had a “history of frequent and devastating financial crises,” the World Bank said in a report called The New Face of Latin America and the Caribbean.

The keys to the newfound resiliency of the Latin American and Caribbean region were more sound monetary policies and better debt and fiscal management, the World Bank said. But a growing connection to emerging Asian economies — especially for South American countries, Costa Rica and Panama — and the region’s evolution from a net debtor to a net creditor to the rest of the world were also big factors.
In addition to Brazil — Florida’s top trading partner — the best performers this year are expected to be Argentina, Peru, Paraguay and Uruguay.

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