The Pacific Alliance: An Example of Lessons Learned
July 11, 2013
With many economies in the industrialized world struggling since the 2008-09 global recession, many countries in the European Union continue to post negative growth rates, while U.S. growth remains sluggish. In this context, considerable attention has been paid to many Latin American economies' ability to successfully endure challenging circumstances.
Even as skepticism for the prospects for Europe's integration increases, a recent initiative in Latin America appears to be opening a new, more pragmatic route to economic integration. The booming economies of Latin America's newest trade bloc may offer guidance on future regional integrations efforts, as well as offering a lessons or two for their former American and European "teachers."