The Process of Latin American Integration in 21 Century

Document Type : Original Independent Original Article

Authors

1 Assistant Professor, Dept. of Diplomacy and International Organizations School of International Relations Tehran, Iran

2 Student of Regional Studies School of International Relations Ministry of Foreign Affairs

Abstract

After World War II, Latin America entered into the process of regional convergence, and in the 21st century, it has followed the same path and has sought greater convergence. However, this path has not been smooth and has been affected by internal, regional and international developments and has resulted in various forms. This article seeks to answer the question of how successful the Latin American economic integration process has been in regional trade and economic development. The current study is based on the hypothesis that Latin America has been successful in integrating trade policies with other parts of the world. However, this has not been accompanied by trade diversification and an increase in the share of world trade, and consequently has not led to an increase in the level of economic development in the region. The existing literature in this field can be divided into two groups. The first group believes that trade convergence between the larger countries in the region has been more successful and smaller countries do not benefit from regional integration because of their dependence on bilateral relations with the United States and Europe. The second group believes that the entire Latin American region is interested in trade convergence but because it has no desire for financial and economic convergence, it cannot take advantage of it and increase its share of world trade. In order to study and test the research hypothesis, an attempt will be made to study the economic and commercial organizations of Latin America using a descriptive-analytical method and to analyze their achievements.

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References

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