Relations with Latin America: an American View
The purpose of this paper is to examine trade and financial relations between Latin America and the United States in a global setting. While this implies the sacrifice of detail, it is made essential by the fact that most U.S. policies affecting the hemisphere are reactions to problems elsewhere in the world. The Vietnam war, the growth of highly competitive economic blocs in Europe and the Orient, the reappraisal of international responsibility for defence support, and the U.S. anti-inflation recession have little or nothing to do with Latin America. Yet the apparent trend in American commercial policy from trade liberalisation to increasing protection follows from these problems and promises to have a severe impact on hemisphere trade and development. The impact can best be understood by examining the pattern of commodity trade growth between Latin America and the rest of the world, and by analysing the role of the United States in that process since the Second World War. This examination occupies the first section of the paper.
KeywordsComparative Advantage Latin American Country Western Hemisphere Indifference Curve Future Good
Unable to display preview. Download preview PDF.
- 1.Bela Balassa, Trade Liberalization Among Industrial Countries (Atlantic Policy Studies Series, McGraw-Hill, New York, 1967).Google Scholar