Latin America and the rising south: changing world, changing priorities

World Bank

The report produced by the World Bank on Latin America and the Caribbean looks at the global trends in trade and finance driving the region’s development at the outset of the 21st century and the region’s profound transformation between the end of the 90s and the beginning of the new millennium.

For over 100 years the disparity between the economically developed nations and Latin America and the Caribbean remained almost unchanged, but from 2000 onwards, with the boom in commodity prices and the South’s subsequent increased participation in the global economy, the North’s primacy over the South became less marked. The study reports how income growth among the poorest 40% was greater in Latin America and the Caribbean than in the rest of the world. Nevertheless, the foundations of that growth have now weakened and Latin America is currently in its fourth year of slowing growth.

The “rising South” process is analysed in order to showcase the policies that enhanced development in the region and to set future goals for sustainable growth in the medium and long term.