Latin American Economy & Business - December 2016 (ISSN 1741-7430)

Region: What to do about hyperglobalisation?

The global economy is going through important structural changes. Since the 1990s, a surge in cross-border trade and financial flows, termed ‘hyperglobalisation’, has delivered a mix of economic benefits and tensions. Strikingly, many developed countries now seem to be experiencing an intense political backlash against this process, a trend that has so far not reached Latin America and the Caribbean (LAC). But in its latest report, titled ‘The region amid the tensions of globalisation’, the UN Economic Commission for Latin America and the Caribbean (ECLAC) argues that governments must be pro-active or risk a further loss of competitiveness in the world economy.

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