Globalization in Latin America.
Globalization in Latin America; Emerging market is the major recent context in the world of economics. Economists estimate that by 2035, the gross domestic products in the emerging markets will surpass that of the advanced markets.
The shift to globalization in Latin America has not been smooth. There were several social movements formed by the Latin Americans in protest for globalization. Latin America, for a long time, had a large population living in poverty following various economic crises in the region.
Globalization process, especially neon-liberal economic policies, as such, served as the catalysts for the protests. The region was burdened by several debts that it sought to repay by establishing economic policies that were doomed unfavorable for the people. The public demanded that it was time they became globalized.
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which means that even the cost of purchasing is low because of competition. Further, it has led to flow of investments from the developed world to the developing worlds. This encourages flow of information between the various countries involved in international trade. The emerging markets in India, therefore, have helped in meeting the demands for finished products in the global market (McMichael, 2012).
The movement had a great impact in the history of Argentina and Latin America as a whole. People were able to expel governments that imposed unfavorable economic policies that seemed to burden the people and the economy in general (Johnston & Almeida, 2006).
Johnston, H., & Almeida, P. (2006). Latin American social movements: Globalization, democratization, and transnational networks. Lanham, Md: Rowman & Littlefield.
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