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ECLAC BACKGROUND GUIDE
Email: info@imuna.org
Phone: +1 (212) 652-9992
Web: www.nhsmun.nyc
Secretary-General Dear Delegates,
Ankita Bhat
Welcome to NHSMUN 2022! My name is Ricardo DeLeon, and I am a rising second-year student at
Director-General
New York University studying at the Stern School of Business as a finance and data science major!
Kathy Li
First and foremost, I would like to thank you all fondly for joining the Economic Commission
Chiefs of Staff for Latin America and the Caribbean. This upcoming conference will mark my second year on
Jon Basile NHSMUN as a staff member. However, I have been a part of MUN for roughly five years now,
Abolee Raut and I cannot be more excited to be a Director for this committee. Last year, I served as an Assistant
Conference Services Director for the Commission on the Status of Women and had the gracious opportunity to meet
Hugo Bordas many of you. Together, Daniel and I hope to run a committee that is not only fun, but also exciting!
Sofía Fuentes
I am from a bustling, suburban city in Georgia known as Suwanne, just about 40 minutes from the
Delegate Experience
city of Atlanta. Aside from being super invested in the art of MUN and all things NHSMUN, I
Akanksha Sancheti
Beatriz Circelli adore playing the cello in my free time as well as reading books revolving around personal finance
and self-improvement. I also listen to a ton of music! If I could provide you with a snapshot of
Global Partnerships
my Spotify playlists, it would probably include songs from Olivia Rodrigo, Nicki Minaj, and Lorde!
Katherine Alcantara
Clare Steiner The Economic Commission for Latin America and the Caribbean is a UN-based organization
Under-Secretaries- that promotes economic and social stability in the Latin American and Caribbean (LAC) region
General by setting up cooperative agreements among member states and associate members. Daniel and
James Caracciolo I have meticulously prepared the topics for this committee’s debate: “Increasing Participation in
Ana Margarita Gil International Trade” and “Promoting Tourism in the Wake of COVID-19.” The past two years
Ming-May Hu have completely dismantled several sectors of the LAC economy. It is up to ECLAC to call forth
Brandon Huetter
policy recommendations that will have the power to rebuild member states’ economies affected by
Juliette Kimmins
Caleb Kuberiet the economic crisis due to the lack of trade and tourism. These topics have become dear to Daniel
Victor Miranda and me as we both worked hard with incredible grit and determination to create a background guide
Anikait Panikker that provides a nuanced and comprehensive overview of these important issues.
Frances Seabrook
Do not be shy to express any questions or concerns about the two topics for this year’s debate. You
Sharon Tang
Kylie Watanabe could either contact Daniel or me, and we would be happy to help in any way we can to facilitate
Sophia Zhukovsky your learning experience. Good luck!
Ricardo DeLeon
ricardo.deleon@imuna.org
Economic Commission for Latin America and the Caribbean
Session I
Email: info@imuna.org
Phone: +1 (212) 652-9992
Web: www.nhsmun.nyc
Secretary-General Dear Delegates,
Ankita Bhat
My name is Daniel Izmirian, and I am very excited to welcome you to the Economic Commission
Director-General
for Latin America and the Caribbean (ECLAC) for NHSMUN 2022! My Ricardo and I worked very
Kathy Li
hard to propose two pressing topics for debate and wrote these Background Guides to provide a
Chiefs of Staff starting point for your research.
Jon Basile
Abolee Raut This will be my second year attending NHSMUN, and I am looking forward to spending time with
each of you in committee. Last year, I served as an Assistant Director of the United Nations Forum
Conference Services
Hugo Bordas on Forests and had an amazing time helping run NHSMUN, so I am so happy to be back. While
Sofía Fuentes I never attended NHSMUN as a delegate, I did attend 14 different conferences during my time in
high school. Collaborating with other delegates as well as chairs supporting me were some of my
Delegate Experience
favorite parts of conferences. I will do my absolute best to create a collaborative and encouraging
Akanksha Sancheti
Beatriz Circelli environment within committee.
Global Partnerships I am currently a sophomore at the University of Pennsylvania in Philadelphia, Pennsylvania. I am
Katherine Alcantara currently studying and planning to major in mechanical engineering and applied mechanics. At
Clare Steiner UPenn, I am part of Penn Electric Racing, in which we design and build a FSAE car to race against
Under-Secretaries- other schools. I am originally from Huntington Beach, California, and love to spend most of my
General free time outside. Whether hiking, backpacking, fishing, skiing, or playing tennis, I find it very
James Caracciolo relaxing to be outdoors.
Ana Margarita Gil
Ming-May Hu With the conference fast approaching, I am thrilled to hear debate on our two topics: Increasing
Brandon Huetter Participation in International Trade and Promoting Tourism in the Wake of COVID-19. The
Juliette Kimmins economic condition that Latin America and the Caribbean are currently in has made both of
Caleb Kuberiet these topics extremely important if the region is to rebound and experience sustainable economic
Victor Miranda growth. Both topics require innovative and comprehensive solutions that aim to tackle all aspects
Anikait Panikker
of the problem. The recommendations made by ECLAC directly impact the millions of people that
Frances Seabrook
live within the region of focus. I hope the Background Guides provide an in-depth analysis of the
Sharon Tang
Kylie Watanabe topics and provide you with ideas of where to start with your solutions. I cannot wait to see all your
Sophia Zhukovsky hard work and hope to make NHSMUN the best it can be!
If you have any questions, please reach out to Ricardo or me. We would be happy to help with any
concerns and are very excited to be working with you. Best of luck with your research!
Daniel Izmirian
daniel.izmirian@imuna.org
Economic Commission for Latin America and the Caribbean
Session II
ECLAC 4| Table of Contents Table of Contents A Note on the NHSMUN Difference 5 A Note on Research and Preparation 7 Committee History 8 Increasing Participation in International Trade 10 Introduction 11 History and Description of the Issue 12 Current Status 24 Bloc Analysis 30 Committee Mission 33 Promoting Tourism in the Wake of COVID-19 35 Introduction36 History and Description of the Issue 36 Current Status 49 Bloc Analysis 52 Committee Mission 55 Research and Preparation Questions 57 Important Documents 58 Works Cited 59
ECLAC
A Note on the NHSMUN Difference |5
A Note on the NHSMUN Difference
Esteemed Faculty and Delegates,
Welcome to NHSMUN 2022! My name is Kathy Li, and I am this year’s Director-General. Thank you for choosing to attend
NHSMUN, the world’s largest and most diverse Model United Nations conference for secondary school students. We are thrilled
to welcome you to New York City in March!
As a space for collaboration, consensus, and compromise, NHSMUN strives to transform today’s brightest thinkers into
tomorrow’s leaders. Our organization provides a uniquely tailored experience for all in attendance through innovative and
accessible programming. We believe that an emphasis on education through simulation is paramount to the Model UN experience,
and this idea permeates throughout NHSMUN.
Realism and accuracy: Although a perfect simulation of the UN is never possible, we believe that one of the core educational
responsibilities of MUN conferences is to educate students about how the UN System works. Each NHSMUN committee is
a simulation of a real deliberative body so that delegates can research what their country has said in the committee. Our topics
are chosen from the issues currently on the agenda of each committee (except historical committees, which take topics from the
appropriate time period). This creates incredible opportunities for our delegates to conduct first-hand research by reading the
actual statements their country has made and the resolutions they have supported. We also strive to invite real UN, NGO, and
field experts into each committee through our committee speakers program. Furthermore, our staff arranges meetings between
students and the actual UN Permanent Mission of the country they represent. No other conference goes so far to immerse
students into the UN System so deeply.
Educational emphasis, even for awards: At the heart of NHSMUN lie education and compromise. As such, when NHSMUN
does distribute awards, we de-emphasize their importance compared to the educational value of Model UN as an activity.
NHSMUN seeks to reward students who excel in the arts of compromise and diplomacy. More importantly, we seek to develop
an environment where delegates can employ their critical thought processes and share ideas with their counterparts from around
the world. Part of what makes NHSMUN so special is its diverse delegate base. Given our delegates’ plurality of perspectives
and experiences, we center our programming around the values of diplomacy and teamwork. In particular, our daises look for
and promote constructive leadership that strives towards consensus, as real delegates do in the United Nations.
Debate founded on knowledge: With knowledgeable staff members and delegates from over 70 countries, NHSMUN can
facilitate an enriching experience reliant on substantively rigorous debate. To ensure this high quality of debate, our staff members
produce extremely detailed and comprehensive topic guides (like the one below) to prepare delegates for the complexities and
nuances inherent in each global issue. This process takes over six months, during which the Directors who lead our committees
develop their topics with the valuable input of expert contributors. Because these topics are always changing and evolving,
NHSMUN also produces update papers intended to bridge the gap of time between when the background guides are published
and when committee starts in March. As such, this guide is designed to be a launching point from which delegates should delve
further into their topics. The detailed knowledge that our Directors provide in this background guide through diligent research
aims to spur critical thought within delegates at NHSMUN.
Extremely engaged staff: At NHSMUN, our staffers care deeply about delegates’ experiences and what they take away from
their time at NHSMUN. Before the conference, our Directors and Assistant Directors are trained rigorously through copious
hours of workshops and exercises to provide the best conference experience possible. At the conference, delegates will have the
opportunity to meet their dais members before the first committee session, where they may engage one-on-one to discuss their
ECLAC 6| A Note on the NHSMUN Difference committees and topics. Our Directors and Assistant Directors are trained and empowered to be experts on their topics, and they are eager to share their knowledge with delegates. Our Directors and Assistant Directors read every position paper submitted to NHSMUN and provide thoughtful insight on those submitted by the feedback deadline. Our staff aims not only to tailor the committee experience to delegates’ reflections and research but also to facilitate an environment where all delegates’ thoughts can be heard. Empowering participation: The UN relies on the voices of all of its Member States to create resolutions most likely to make a meaningful impact on the world. That is our philosophy at NHSMUN as well. We believe that to properly delve into an issue and produce fruitful debate, it is crucial to focus the entire energy and attention of the room on the topic at hand. Our Rules of Procedure and our staff focus on empowering every voice in the committee, regardless of each delegate’s country assignment or skill level. Additionally, unlike many other conferences, we also emphasize delegate participation after the conference. MUN delegates are well-researched and aware of the UN’s priorities, and they can serve as the vanguard for action on the Sustainable Development Goals (SDGs). Therefore, we are proud to connect students with other action-oriented organizations to encourage further work on the topics. Focused committee time: We feel strongly that interpersonal connections during debate are critical to producing superior committee experiences and allow for the free flow of ideas. Ensuring policies based on equality and inclusion is one way in which NHSMUN guarantees that every delegate has an equal opportunity to succeed in committee. In order to allow communication and collaboration to be maximized during committee, we have a very dedicated team who work throughout the conference to type, format, and print draft resolutions and working papers. As always, we welcome any questions or concerns about the substantive program at NHSMUN 2022 and would be happy to discuss NHSMUN pedagogy with faculty or delegates. Delegates, it is our sincerest hope that your time at NHSMUN will be thought-provoking and stimulating. NHSMUN is an incredible time to learn, grow, and embrace new opportunities. We look forward to seeing you work both as students and global citizens at the conference. Best, Kathy Li Director-General
ECLAC
A Note on Research and Preparation |7
A Note on Research and Preparation
Delegate research and preparation is a critical element of attending NHSMUN and enjoying the debate experience. We have
provided this Background Guide to introduce the topics that will be discussed in your committee. We encourage and expect each
of you to critically explore the selected topics and be able to identify and analyze their intricacies upon arrival to NHSMUN in
March.
The task of preparing for the conference can be challenging, but to assist delegates, we have updated our Beginner Delegate
Guide and Advanced Delegate Guide. In particular, these guides contain more detailed instructions on how to prepare a
position paper and excellent sources that delegates can use for research. Use these resources to your advantage. They can help
transform a sometimes overwhelming task into what it should be: an engaging, interesting, and rewarding experience.
To accurately represent a country, delegates must be able to articulate its policies. Accordingly, NHSMUN requires each delegation
(the one or two delegates representing a country in a committee) to write a position paper for each topic on the committee’s
agenda. In delegations with two students, we strongly encourage each student to research each topic to ensure that they are
prepared to debate no matter which topic is selected first. More information about how to write and format position papers can
be found in the NHSMUN Research Guide. To summarize, position papers should be structured into three sections:
I: Topic Background – This section should describe the history of the topic as it would be described by the delegate’s
country. Delegates do not need to give an exhaustive account of the topic, but rather focus on the details that are most
important to the delegation’s policy and proposed solutions.
II: Country Policy – This section should discuss the delegation’s policy regarding the topic. Each paper should state the
policy in plain terms and include the relevant statements, statistics, and research that support the effectiveness of the policy.
Comparisons with other global issues are also appropriate here.
III. Proposed Solutions – This section should detail the delegation’s proposed solutions to address the topic. Descriptions
of each solution should be thorough. Each idea should clearly connect to the specific problem it aims to solve and identify
potential obstacles to implementation and how they can be avoided. The solution should be a natural extension of the
country’s policy.
Each topic’s position paper should be no more than 10 pages long double-spaced with standard margins and font size. We
recommend 3–5 pages per topic as a suitable length. The paper must be written from the perspective of the your assigned
country should articulate the policies you will espouse at the conference.
Each delegation is responsible for sending a copy of its papers to their committee Directors via myDais on or before March
4, 2022. If a delegate wishes to receive detailed feedback from the committee’s dais, a position must be submitted on or before
February 18, 2022. The papers received by this earlier deadline will be reviewed by the dais of each committee and returned
prior to your arrival at the conference.
Complete instructions for how to submit position papers will be sent to faculty advisers via email. If delegations are unable to
submit their position papers on time, please contact us at info@imuna.org.
Delegations that do not submit position papers to directors will be ineligible for awards.
ECLAC 8| Committee History Committee History The Economic Commission on Latin America and the Caribbean (ECLAC) was formed in 1948 to catalyze the economic development of the region and strengthen economic ties with other regions of the globe. In a post-World War II economy, Latin America and the Caribbean accounted for nearly 12 percent of world merchandise exports and imports. During this period of substantial exports, ECLAC was founded as one of the five regional commissions of the United Nations and began focusing on increasing economic development and partnerships in Latin America and the Caribbean.1 ECLAC is made up of 33 member states in Latin America & the Caribbean and 46 other Member States with historical, economic, or cultural ties with the region. Fourteen non-independent territories are also Associate Members.2 Based in Santiago, Chile, ECLAC’s main goal is to stimulate social and economic development through both domestic and international means. It gathers, organizes, and disseminates information and data relating to the development of the region.3 The Commission has played a substantial role in forming the global school of thought around long-term growth for these countries, the primary of which is historical structuralism, or analyzing the history of a nation’s economy to determine how to help it in the present day. These economic systems, many of which formed during colonization, still affect the modern economics of Latin America and the Caribbean. Therefore, when delegates are amidst deliberations, they should use ECLAC’s framework that implies that the region’s economies can be best understood when analyzed historically.4 ECLAC’s history and methodology have also been marked by its founding of the concept of inertial inflation—a practice in which the prices of an economy are constantly readjusted through contracts and legislative policy. This has directly led to several successful attempts at stabilizing fluctuating economies in the region, one prominent example being in the Dominican Republic.5 Over the past seven decades, ECLAC has made major contributions to the analysis and response to the debt crisis and leading to a gradual reduction of inequality in Latin America since 2000. ECLAC’s primary form of action is facilitating partnerships and refining economic policy regarding issues in the region, rather than authorizing specific action for the United Nations. Inside the UN, the Commission regularly works with other agencies— UNFPA, UNICEF, FAO, ILO, and the UNEP all had strategic partnerships and multilateral projects with ECLAC in 2018. Overall, these partnerships have contributed to a decreasing unemployment rate and a gradual rise in the region’s GDP. 6 Outside of the UN, ECLAC works with government organizations across the globe, some examples being historical partnerships with the German Federal Ministry for Economic Cooperation & Development and the Spanish Agency for International Development Cooperation.7 ECLAC also works with academic institutions and non-governmental agencies. These partnerships have led to a consistent increase in the region’s literacy rate, which in turn has contributed to a steadily rising GDP.8 ECLAC meets biennially to discuss the growth and challenges the region has faced in the past two years and make recommendations for the next two. The 38th session of ECLAC ran through October 2020 and was hosted virtually by Costa Rica. The Commission discussed and planned strategies on sustainable development in Latin America and the Caribbean, the crisis of low trade to GDP 1 Osvaldo Rosales and Sebastian Herreros, “Trade and Trade Policy in Latin America and the Caribbean: Recent Trends, Emerging Challenges,” Journal of International Affairs 66, no. 2 (2013): 31-49, https://www.jstor.org/stable/24388284 2 Economic Commission for Latin America and the Caribbean. “Member States and Associate Members.” Economic Commission for Latin America and the Caribbean. CEPAL, June 10, 2019. https://www.cepal.org/en/estados-miembros. 3 Economic Commission for Latin America and the Caribbean, “About ECLAC,” June 3, 2019, https://www.cepal.org/en/about-eclac-0. 4 Economic Commission for Latin America and the Caribbean, “Report Highlights Region’s Achievements in the Development of Statistics,” Press Release, October 9, 2018, https://www.cepal.org/en/pressreleases/report-highlights-regions-achievements-development-statistics. 5 Economic Commission for Latin America and the Caribbean, “ECLAC Calls for STRENGTHENING Fiscal Policy’s Role as Instrument of Stabilization and Driver of Economic Growth,” Press Release | Economic Commission for Latin America and the Caribbean (CEPAL, December 12, 2018), https:// www.cepal.org/en/pressreleases/eclac-calls-strengthening-fiscal-policys-role-instrument-stabilization-and-driver. 6 Economic Commission for Latin America and the Caribbean (ECLAC), Report on the activities of the Commission from January to December, 2018 (LC/PLEN.34/3), Santiago, 2019. 7 Economic Commission for Latin America and the Caribbean, “Cooperation,” September 16, 2021, https://www.cepal.org/en/cooperation. 8 Economic Commission for Latin America and the Caribbean. Innovative Communities: Leveraging Technology and innovation to build sustainable and resilient societies. New York City, New York: UN Headquarters, 2018.
ECLAC
Committee History |9
growth, reduced civic participation, diversity in the workforce, and more. Now, ECLAC works to put these strategies into action
before their next session in 2022. 9
Because ECLAC does not make binding decisions, rather recommendations, it is of utmost importance for delegates to cooperate
and make plausible recommendations for member states to implement. As the world recovers (and continues to endure) the
COVID-19 pandemic, ECLAC’s balance of economic revitalization with sustainability and protection of local communities
poses a greater challenge and is of greater significance. In order for ECLAC to continue its history of economic resurgence of
Latin America and the Caribbean, delegates must make sustainable, comprehensive, and substantiated recommendations.
9 “Thirty-eighth session of ECLAC,”Economic Commission for Latin America and the Caribbean, accessed October 26, 2020, https://periododesesiones.
cepal.org/38/en.
ECLAC
NHSMUN 2022
Topic A:
Increasing Participation in International Trade
Photo Credit: Guillaume BolducTopic A: Increasing Participation in International Trade
Introduction |11
Introduction
International trade is the exchange of goods, services, and capital across international borders.
For many countries, trade is responsible for a significant portion of the economy. Engaging in
international trade allows countries to expand their markets to new consumers and gain access to
additional goods and services.1 Furthermore, a significant reason international trade is beneficial is
the concept of specialization: a process in which a country will focus on producing goods or services
that are inherently easier to make within their borders. Countries that specialize in specific goods or
services can export their surplus of goods to other countries that struggle to produce those goods
at the same efficiency. At the same time, a specialized economic structure will require imports to
compensate for their lack of focus on other goods. This economic concept allows countries to
become more efficient with their production process and trade for goods that they need.2 Countries
that participate in international trade tend to experience more fruitful periods of economic growth,
innovation, and productivity and provide a better quality of life for their citizens.3
The countries within Latin America and the Caribbean Exports from Latin America and the Caribbean are
are either considered to have developing economies or largely dominated by natural resources because of their
Small Island Developing States (SIDS). SIDS are a group abundance throughout the region. During its colonial
of developing, small island countries primarily located in past, the region’s economies were based mostly on
the Caribbean and the Pacific Ocean and characterized by exporting these natural resources and precious metals
their small population, geographic remoteness, and lack to countries such as Spain and Portugal.7 After gaining
of resources.4 These countries face additional challenges independence, many newly formed countries still heavily
due to their unique position in global markets. Because relied upon natural resource exportation, which has
their resources are limited, these countries rely heavily historically been problematic due to the large fluctuations
upon the importation of goods to have a functional in prices that raw materials experience on the global
economy, which is costly to maintain.5 According to market.8 Regional integration and global value chains,
ECLAC, between 2014 and 2020, Latin America and the which are international production chains that cross
international borders, serve as a way for countries within
Caribbean recorded the lowest economic growth rate of
this region to improve efficiency and ultimately invest
the past seven decades. In 2019, the region only saw a
in diversifying their economies. Regional integration
0.1 percent increase in its Gross Domestic Product. Due
increases neighboring countries’ ability to trade with
to this worrying trend, it is of the utmost importance
each other and internationally by increasing cooperation
to increase participation in international trade within
and reducing trade barriers.
the region to boost economic growth with access to
additional markets and increased productivity.6 One of the most considerable challenges for expanding
1 Reem Heakal, “The Investor’s Guide to Global Trade,” Investopedia, last modified February 18, 2021, https://www.investopedia.com/
insights/what-is-international-trade/.
2 Reem Heakal, “The Investor’s Guide to Global Trade.”
3 Brad McDonald, “International Trade: Commerce among Nations,” International Monetary Fund, last modified February 24, 2020,
https://www.imf.org/external/pubs/ft/fandd/basics/trade.htm.
4 “About Small Island Developing States,” United Nations, accessed August 17, 2021, https://www.un.org/ohrlls/content/about-small-
island-developing-states.
5 “Small island developing states face uphill battle in COVID-19 recovery,” UNCTAD, June 10, 2021, https://unctad.org/news/small-island-developing-
states-face-uphill-battle-covid-19-recovery.
6 ECLAC “The 2014-2020 period will mark the Lowest Growth in the Last Seven Decades for Latin American and Caribbean Economies:
ECLAC,” news release, December 12, 2019, https://www.cepal.org/en/pressreleases/2014-2020-period-will-mark-lowest-growth-last-
seven-decades-latin-american-and.
7 “Defining Latin America,” Academy for Cultural Diplomacy, accessed June 18, 2021, https://www.culturaldiplomacy.org/academy/index.
php?en_cdea_european-latin-american-relationship.
8 “Defining Latin America,” Academy for Cultural Diplomacy.Topic A: Increasing Participation in International Trade
12|H istory and Description of the Issue
international trade within Latin America and the Caribbean process across the region that brought about significant
is the lack of adequate and sustainable infrastructure. inequality and imbalance.12 Following many expeditions
Infrastructure refers to structures that are necessary for to the region, then referred to as the New World, Spain
essential services, for example, water treatment facilities, and Portugal claimed Latin America and the Caribbean
roads, and bridges.9 Economists estimate that the region to be their territories per the Treaty of Tordesillas in
must invest an additional USD 150 billion each year into 1494.13 Under colonial rule, disease and war brought
infrastructure to meet travel needs. Furthermore, the by colonizers decimated the indigenous populations.
quality of the current infrastructure of Latin America and During this period of turmoil, all agreements between
the Caribbean is ranked fifth out of six regions assessed, the indigenous people and Europeans favored a distinct
only ahead of Sub-Saharan Africa.10 Despite the need European-influenced culture.14
for infrastructure developments, it is also essential to
consider the environment when expanding. With climate After three centuries of colonial rule, Latin Americans
change and unsustainable practices becoming a more started to form an identity separate from the European-
significant threat, trade policies should adapt to consider centric one enforced by colonial powers.15 People of
the environmental impacts.11 Therefore, it is important Spanish and Portuguese descent no longer felt as if they
to consider not only how to use infrastructure to boost were European, and in the 1800s, these feelings led to
trade but how to maintain sustainability in this process. the various Latin American independence movements.16
Between 1808 and 1826, all territories within Latin
With the current state of the economy within Latin America and the Caribbean except Cuba and Puerto
America and the Caribbean following the ramifications of Rico had become independent. Following independence,
the COVID-19 pandemic, increasing international trade political and economic turmoil commenced—more than
within the region is vital. Cooperation between countries a dozen countries formed along the divisions created by
is essential to increase international trade successfully, the colonial system. Many Latin American leaders created
and investments are imperative for sustainable and
republics to solidify the claim of their independence and
consistent growth.
their new governments.17 The new form of government
demonstrated its independence from Spain and Portugal.
History and Description of the Issue However, the fight for political power did not end after
the end of colonial rule.
Colonial History
The social and economic structures instituted by Spain
The colonial period greatly influenced the formation and Portugal did not drastically change following Latin
of Latin America and the Caribbean and is essential American independence. Property rights to land and
to understand. Christopher Columbus landing in the labor remained intact, and imports continued to be
Americas in 1492 was the beginning of the colonization restricted.18 However, with the end of colonialism, Latin
9 Grete Faremo, “Goal 9 - A Sustainable Future of Infrastructure,” UN Chronicle, accessed June 30, 2021, https://www.un.org/en/
chronicle/article/goal-9-sustainable-future-infrastructure.
10 Eric Parrado, “How Latin America is Holding Back its Own Growth,” Americas Quarterly, May 7, 2019, https://www.americasquarterly.
org/article/how-latin-america-is-holding-back-its-own-growth/.
11 Faremo, “Goal 9 - A Sustainable Future of Infrastructure.”
12 “Defining Latin America,” Academy for Cultural Diplomacy.
13 Britannica, s.v. “Treaty of Tordesillas,” accessed June 18, 2021, https://www.britannica.com/event/Treaty-of-Tordesillas.
14 “Defining Latin America,” Academy for Cultural Diplomacy.
15 “Defining Latin America,” Academy for Cultural Diplomacy.
16 Britannica, s.v. “The Independence of Latin America,”, accessed June 18, 2021, https://www.britannica.com/place/Latin-America/The-
independence-of-Latin-America.
17 Britannica, s.v. “Disorder and Caudillismo,” accessed June 18, 2021, https://www.britannica.com/place/Latin-America/Disorder-and-
caudillismo.
18 Victor Bulmer-Thomas, The Economic History of Latin America since Independence, (New York: Cambridge University Press, 2014), 15-18,
https://doi.org/10.1017/CBO9781139208710.Topic A: Increasing Participation in International Trade
History and Description of the Issue |13
A painting depicting Brazil’s declaration of independence from Portugal
America and the Caribbean were no longer inhibited by stability in Latin America and the Caribbean.22
the lack of access to additional markets, the colonial fiscal
Gaining independence was essential to ensuring
system, and capital flight through the removal of natural
resources.19 Capital flight is the rapid outflow of assets sustainable growth within the region as previous barriers
or valuable resources out of a country.20 The European prevented countries from utilizing their resources through
claim to Latin America and the Caribbean led to the trade. Despite the resulting benefits, independence was
massive export of valuable natural resources without followed by a decline in Latin American and Caribbean
benefits to the native populations.21 In the colonial fiscal economies, as newly independent countries saw lost
and tax systems, the indigenous population had little access to international markets due to the lack of trade
autonomy and influence concerning policy. Spanish and agreements. As a result, it took the region until the
Portuguese laws maximized revenue for the colonial 1850s to return to colonial levels of per capita income.23
rulers and destabilized the governments’ economic Nevertheless, freeing the financial institutions of formerly
19 Bulmer-Thomas, “The Economic History of Latin America since Independence.”
20 “Capital Flight,” Corporate Finance Institute, accessed June 18, 2021, https://corporatefinanceinstitute.com/resources/knowledge/
economics/capital-flight/.
21 Bulmer-Thomas, “The Economic History of Latin America since Independence.”
22 Bruno Martorano, Tax Policy and Inequality in Latin America (London: International Budget Partnership, 2018), https://www.
internationalbudget.org/wp-content/uploads/tax-policy-and-inequality-latin-america-english-2018.pdf.
23 Miguel Angel Centeno, “Blood and Debt: War and Taxation in Nineteenth-Century Latin America,” American Journal of Sociology 102, no.
6 (1997): 1565-1605, doi:10.1086/231127.Topic A: Increasing Participation in International Trade
14|H istory and Description of the Issue
colonized countries from Spanish and Portuguese taxes colonization of the Americas and the proceeding
and trade monopoly ultimately allowed for economic revolutions is essential to understanding the current
growth in years to come.24 dynamics of Latin America and the Caribbean. Its history
has significantly impacted the region and created various
Over time, Latin America began to shift its policies to
political and economic trends that must be considered by
export additional raw materials. Following World War II,
ECLAC when creating recommendations.
Latin America and the Caribbean accounted for nearly
12 percent of world merchandise exports and imports, Role of Natural Resources
gradually increasing their participation in the global
market.25 International trade and cooperation continued Throughout its history, natural resource wealth has been
to increase until the debt crisis of the 1980s. Caused essential for Latin American and Caribbean economies.
initially by a shock to oil prices, the crisis led to massive This region’s natural resource exports include agriculture,
and unsustainable borrowing by Latin America and lumber, fish, metals, oil, natural gas, and ores. The tropical
Caribbean countries. The debt of the Latin America and climate in parts of the region allows for the cultivation
Caribbean region increased from USD 29 billion in 1970 of two essential cash crops: coffee and cacao. Brazil, for
to USD 327 billion by 1982 as other countries tightened example, is the world’s largest exporter of coffee and
their monetary policies.26 used to be one of the largest exporters of cacao until
a fungus destroyed many cacao plantations throughout
A subsequent lack of trust in Latin American and
South America.31 Another major export from tropical
Caribbean economies reduced lending and investment
South America is lumber, primarily originating from
and eventually caused a deep recession dubbed the
the Amazon. High demand for lumber products is a
“lost decade.”27 Latin America and Caribbean countries
significant cause of the Amazon rainforest destruction,
adopted a trade liberalization policy due to the debt
which surged to its highest levels since 2008 from August
crisis.28 This policy consisted of reducing trade barriers
2019 to July 2020.32 Noting that the region is home to a
across borders, reversing previous economically
fifth of all native forests on Earth, it is a massive resource
restrictive policies.29 The reduction of these barriers and a
that must be utilized sustainably. In the Caribbean and
subsequent increase in trade are directly correlated to the
along South America’s Pacific coast, one of the most
growth of the region’s gross domestic product (GDP),
critical exports comes from marine fisheries. In 2009,
or the total value of all goods and services produced
Latin America and the Caribbean produced 1.8 million
within a country’s borders over the course of a year, by
tonnes of aquaculture products. Regional aquaculture
0.6 percentage points between 1990–2010.30
is maintaining a growth rate that exceeds every other
Looking at the initial influences from the European region worldwide. Production of aquaculture products
24 Leandro Prados de la Escosura, Colonial Independence and Economic Backwardness in Latin America, (Madrid: Universidad Carlos III de Madrid, 2005):
3-21, https://www.researchgate.net/publication/4724464_Colonial_independence_and_economic_backwardness_in_Latin_America.
25 Osvaldo Rosales and Sebastian Herreros, “Trade and Trade Policy in Latin America and the Caribbean: Recent Trends, Emerging
Challenges,” Journal of International Affairs 66, no. 2 (2013): 31-49, https://www.jstor.org/stable/24388284
26 “Latin American Debt Crisis of the 1980s,” Federal Reserve History, accessed June 21, 2021, https://www.federalreservehistory.org/
essays/latin-american-debt-crisis.
27 “Latin American Debt Crisis of the 1980s.”
28 FAO, “Trade and Related Economic Reforms,” in Trade Reform and Food Security, (Rome: Food and Agriculture Organization, 2003),
http://www.fao.org/3/y4671e/y4671e00.htm#Contents.
29 “Trade and Related Economic Reforms.”
30 Pablo Bachelet, “Trade liberalization has boosted Latin American and Caribbean economies, IDB study finds,” Inter-American Development
Bank, last modified November 25, 2019, https://www.iadb.org/en/news/trade-liberalization-has-boosted-latin-american-and-caribbean-
economies-idb-study-find. s; “Gross Domestic Product”, US Bureau of Economic Analysis, last modified May 26, 2021, https://www.bea.
gov/data/gdp/gross-domestic-product.
31 “South America: Resources,” National Geographic, accessed June 21, 2021, https://www.nationalgeographic.org/encyclopedia/south-
america-resources/.
32 David Shuckman, “Brazil’s Amazon: Deforestation Surges to 12-year High,” BBC, November 30, 2020, https://www.bbc.com/news/
world-latin-america-55130304.Topic A: Increasing Participation in International Trade
History and Description of the Issue |15
Peru’s Yanacocha gold mine
has grown at an annual rate of about 20 percent, Chile, Bolivia, and Argentina produced more than half
allowing for food security and employment.33 However, the silver worldwide in 2018. The current major export
the volatility, or frequent changes in value, associated within the region is copper. Chile is the largest producer
with raw materials often inhibits economic growth for of copper globally, producing 28 percent of the world’s
developing economies.34 As a result, this resource-rich supply in 2019.36 Furthermore, oil deposits are rich in the
region has struggled to grow at the same rate as other region and support the economies of various countries.
global powers. The most notable case is Venezuela, whose oil revenues
The mining industry is arguably the most crucial driver account for 99 percent of exports.37 A founding member
of economic growth within Latin America and the of the Organization of the Petroleum Exporting
Caribbean due to its role in producing raw materials for Countries (OPEC), Venezuela has the world’s largest
export. From the 16th to 19th centuries, Latin America proven oil reserves at 299.5 billion barrels or 18.2 percent
was the source of 80 percent of the world’s silver, of the estimated global reserves as of 2016. Regarding
fueling the monetary systems of Europe, China, and global mining reserves, Latin America and the Caribbean
India.35 Despite its history of mining exploitation under approximately host 65 percent of the world’s lithium
Spanish and Portuguese control, there are still many reserves, 49 percent of the world’s silver reserves, 44
precious metals within the region. Peru, for instance, has percent of the world’s copper reserves, and 33 percent
the world’s largest silver reserves, and alongside Mexico, of the world’s tin reserves. Furthermore, the region is
33 “Fisheries and aquaculture production in Latin America and the Caribbean,” FAO, accessed June 21, 2021, http://www.fao.org/americas/
priorities/pesca-y-acuicultura/en/
34 Stewart M. Patrick, “Why Natural Resources Are a Curse on Developing Countries and How to Fix It,” The Atlantic, last modified April
30, 2021, https://www.theatlantic.com/international/archive/2012/04/why-natural-resources-are-a-curse-on-developing-countries-and-
how-to-fix-it/256508/.
35 Emily Sinnott, John Nash and Augusto de la Torre, Natural Resources in Latin America and the Caribbean Beyond Booms and Busts? (World Bank,
2011), https://openknowledge.worldbank.org/handle/10986/2482.
36 Bruna Alves, “Mining in Latin America - Statistics and Facts,” Statista, last modified July 16, 2021, https://www.statista.com/topics/5436/
mining-in-latin-america.
37 “Venezuela facts and figures,” Organization of Petroleum Exporting Countries, accessed June 22, 2021, https://www.opec.org/opec_
web/en/about_us/171.htm.Topic A: Increasing Participation in International Trade
16|H istory and Description of the Issue
home to one-third of the world’s freshwater reserves and foreign investment in natural resource extraction. Most
12 percent of the world’s arable soils, which is expected areas within the region lack appropriate investment in
to become an even more valuable resource soon.38 infrastructure or transport alternatives.43
Furthermore, many of the natural resources exported Resource management is also a top concern for countries
by Latin America and the Caribbean have volatile
in the region. After discovering a possible 23 billion
prices due to the effects of global prices on the supply
barrels of natural gas and oil in remote Patagonia, the
and demand of their exports. This can easily lead to
economic downturns and reduced investment in the Argentine government seized an affiliate of the Spanish
region due to a lack of trust.39 Taking advantage of oil company Repsol: YPF. The Argentine government
natural resources requires significant initial investments removed the executives from their offices and indicated
that may take decades to become fully profitable, further they would not pay the USD 10.5 billion that the
preventing private investment.40 A typical mine costs company demanded in compensation. Before its seizure,
anywhere between 500 million and one billion dollars; YPF was Argentina’s largest company and was valued
the total costs outweigh the total revenue until its fifth at USD 18 billion. The senate allowed the Argentinian
year of operation.41 With such a high initial investment, it
government control of 51 percent of YPF and split the
is challenging to enter the market. Investment plans must
rest among investors. 44 Such political instability makes
also account for the environmental damage that such a
process will do to its construction area. companies lose faith in the strength and protection in
their investment, significantly larger expenditures such as
Considering the limited amount of investment available natural resource extraction.45
in any given country, foreign direct investment (FDI),
an investment made by a firm or individual from one In most Latin American and Caribbean countries, the law
country into another country, is an integral component provides that the government owns any mineral or resource
of growth.42 To allow for sustainable mining operations that is removed from the ground. To capitalize on the trade of
to be created through foreign direct investment, there are these resources, the government has state-run extraction sites,
several factors that countries within Latin America and
taxes, and royalties. ECLAC recommends that countries adopt
the Caribbean must take into account. The labor skills
progressive criteria regarding taxes and royalties in a fashion
of the local population play a significant role in foreign
investment as the lower wages within Latin America and that maximizes profits from natural resource exploitation.46
the Caribbean coupled with high productivity and skills Additionally, ECLAC recommends that countries adopt and
attract investment. On the other hand, transportation promote a policy that aims towards structural change that
costs and available infrastructure play a vital role in leads to the diversification of economies.47
38 “The governance of natural resources in Latin America and the Caribbean,” Economic Commission for Latin America and the Caribbean,
accessed June 22, 2021, https://www.cepal.org/en/infografias/governance-natural-resources-latin-america-and-caribbean.
39 Sinnott, Nash and de la Torre, Natural Resources in Latin America and the Caribbean Beyond Booms and Busts?.
40 Ibsen Martinez, “Nationalizations: Part I. A Latin American Story,” The Library of Economics and Liberty, last modified June 4, 2007,
https://www.econlib.org/library/Columns/y2007/Martineznationalizations.html.
41 “Opening New Mines,” MIT, accessed June 22, 2021, https://web.mit.edu/12.000/www/m2016/finalwebsite/solutions/newmines.
html.
42 “What is ‘foreign direct investment’?,” YouGov, accessed August 16, 2021, https://www.ecnmy.org/learn/your-world/globalization/
foreign-direct-investment/.
43 Pablo Guerrero, Krista Lucenti, and Sebastián Galarza, “Trade Logistics and Regional Integration in Latin America and the Caribbean,”
ADBI Institute, last modified August 2010, https://www.adb.org/sites/default/files/publication/156088/adbi-wp233.pdf.
44 Juan Forero, “Seizure of Repsol affiliate in Argentina stuns oil markets,” The Washington Post, April 26, 2012, https://www.washingtonpost.
com/world/the_americas/seizure-of-repsol-affiliate-in-argentina-stuns-oil-markets/2012/04/25/gIQANkHrhT_story.html.
45 Zovatto, “The rapidly deteriorating quality of democracy in Latin America.”
46 ECLAC, Natural resources: Status and trends towards a regional development agenda in Latin America and the Caribbean (Santiago: United Nations,
December 2013), https://www.cepal.org/sites/default/files/publication/files/35892/S2013808_en.pdf.
47 “The governance of natural resources in Latin America and the Caribbean,” Economic Commission for Latin America and the Caribbean,
accessed June 22, 2021, https://www.cepal.org/en/infografias/governance-natural-resources-latin-america-and-caribbean.Topic A: Increasing Participation in International Trade
History and Description of the Issue |17
Regional Integration and Global Value Chains countries.52 Furthermore, the creation of the System of
Electric Interconnection by the Central American Common
Regional integration is the increased cooperation between
Market provides another example of how countries can
countries in a region to maintain peace, wealth, and stability.
pool resources to link regional power. Through this system,
Economic integration occurs when countries remove barriers
six countries within Central America connected their energy
to trade between them, including tariffs, quotas, and border
grids to bolster their infrastructures and reduce the risk of an
restrictions.48 Geography, a lack of infrastructure, and specific
energy crisis. The connected system allows for lower energy
policies could all disrupt integration and economic growth
prices due to creating electricity from the best power plants.53
within a region. The most basic form of regional integration
is promoting trade agreements that take a regional approach to There are three main types of regional economic integration:
access the global marketplace. However, regional integration free trade agreements, customs unions, and the single
requires much more than just trade agreements to have a market. A free trade agreement is a treaty between two or
lasting impact.49 Regional integration aims to increase the more countries that reduces or removes barriers to trade
competitiveness of smaller countries that can then use their and investment between the participating countries. In turn,
new production and supply capacity to gain a foothold in the this allows for increased trade and cooperation between the
international market. participating countries.54 A customs union is a combination
of free-trade zones and common markets. It is a trade
The first steps towards regional integration are small and
agreement in which participating countries agree to free trade
usually start with fewer participants for the cooperation.
internally, but they charge a common set of tariffs to the rest
For the European Union (EU), the first step to becoming
of the world.55 While adopting such tariffs does inhibit some
what it is today was an agreement on natural resources by
international trade, one benefit to customs unions is that such
the European Coal and Steel Community, formed by just six
policies protect domestic producers. As a result of the tariff to
countries, that eventually united the various parts of Europe.50
countries outside of the customs union, domestic producers
When ECLAC promotes regional integration, it emphasizes
compete with other similarly sized businesses in their region
that the global marketplace should be kept in mind. Large,
instead of large businesses in more developed countries.56
developed countries can have both global integration and
regional integration. However, less developed countries such A step further in economic integration is the creation of a
as Latin America and the Caribbean require more resources to single market. The foundations of the single market are the
reach global integration.51 Shared infrastructure and projects free movement of people, goods, services, and capital across
that facilitate trade allow countries to pool their resources to borders. Creating single markets nearly eliminates all barriers
reach global markets. Whether it may be cross-border roads as it becomes exceedingly easy for workers and companies
and railways or operating and maintaining terminals at ports, to conduct their business across borders in an optimal
investment into these types of infrastructure is essential to way.57 Both the EU and the Common Market for Eastern
increasing the integration of Latin American and Caribbean and Southern Africa provide examples of well-integrated
48 “Extension: What is Regional Integration,” Carleton, accessed June 25, 2021, https://carleton.ca/ces/eulearning/introduction/what-is-
the-eu/extension-what-is-regional-integration/.
49 “Extension: What is Regional Integration.”
50 “The history of the European Union,” European Union, accessed June 25, 2021, https://europa.eu/european-union/about-eu/history_
en.
51 Uwe Deichmann and Iindermit Gill, “The Economic Geography of Regional Integration,” Finance and Development, last modified
December 2008, https://www.imf.org/external/pubs/ft/fandd/2008/12/deichmann.htm.
52 Deichmann and Gill, “The Economic Geography of Regional Integration.”
53 World Energy Council, Regional Energy Integration in Latin America and the Caribbean Executive Summary (London: World Energy Council, 2008),
https://www.worldenergy.org/assets/downloads/PUB_Regional_Energy_Integration_in_Latin_America_and_The_Caribbean_2008_
exec_Summary_WEC.pdf.
54 “About free trade agreements (FTAs),” Australian Government Department of Foreign Affairs and Trade, accessed June 25 2021,
https://www.dfat.gov.au/trade/about-ftas/Pages/the-benefits-of-free-trade-agreements.
55 Britannica, s.v. “Customs Union,” accessed June 25, 2021, https://www.britannica.com/topic/customs-union.
56 “Customs union.”
57 “European Single Market,” Committee for European Construction Equipment, accessed June 25, 2021, https://www.cece.eu/industry-Topic A: Increasing Participation in International Trade
18|H istory and Description of the Issue
common markets.58 The European Union is the world’s largest and Mexico and represents 85 percent of the entire region.
common market and saw that between 1999–2010, foreign The remaining region represented by CACM was composed
trade doubled and accounted for 30 percent of the EU’s GDP, of the five countries in the Central American isthmus and is
significantly because of the resulting integration. As a result now referred to as the Caribbean Community (CARICOM).
of being a common market, the EU itself has much more After creating CACM, significant tariff reductions quickly
power in international trade agreements than an independent increased reciprocal trade, but a lack of diversity in products
country. When a powerhouse like the EU negotiates for the caused such trade to stagnate.61 Due to the larger size of its
entire region, it creates greater demand to trade due to the members, negotiations within LAFTA were much slower, and
extensive access to various markets.59 trade liberalization was relatively small due to the need for
consensus on the terms of a regional trade agreement.
In the 1960s, Latin America and the Caribbean took a
significant step towards greater integration by creating the With the information technology revolution, further regional
Latin American Free Trade Association (LAFTA) and the integration started to take hold within Latin America and the
Central American Common Market (CACM).60 LAFTA Caribbean in the 1990s. During this period, transportation,
includes the ten independent countries within South America telecommunications, and international transactions prices
Depiction of the international connections that support a global value chain
and-market/european-single-market.
58 “Understanding Regional Integration,” Caribbean Elections, accessed June 25, 2021, http://www.caribbeanelections.com/education/
integration/integration.asp.
59 “Trade,” European Union, accessed June 26, 2021, https://europa.eu/european-union/topics/trade_en.
60 Economic Commission for Latin America and the Caribbean, Regional Integration in Latin America, Globalization and South-South Trade,
LC/L.1128, (July 9, 1998), https://repositorio.cepal.org/bitstream/handle/11362/31059/1/S9860440_en.pdf.
61 Regional Integration in Latin America, Globalization and South-South Trade.Topic A: Increasing Participation in International Trade
History and Description of the Issue |19
fell, allowing for increased globalization. As a result of these that corporations could be treated as legal entities was another
changes, Latin American and Caribbean countries used open criticism of the project. This condition allows them to sue
regionalism to achieve regional integration. ECLAC defines governments they were operating in for lost profits due to
the policy of open regionalism as taking actions towards local laws. In addition, the FTAA would have allowed U.S.
increasing economic interdependence within a region by corporations to buy land in Latin America and the Caribbean
adopting preferential trade agreements.62 The overall goal of and mine the area for its rich natural resources and retain
this policy is to increase international competitiveness through the entirety of profits. The failed attempt showcases that
regional trade agreements that lead to trade liberalization and agreements do not necessarily ensure equity regarding profits
create transparency within the economy for wary investors. among countries, thus further disincentivizing countries from
These agreements allow for almost complete removal of trade approving them.65
barriers between the countries in the agreement while leaving
One method by which countries within Latin America and
their barriers to outside countries intact. As a result of this
the Caribbean can increase international trade and regional
policy, countries within Latin America and the Caribbean
integration is creating global value chains (GVCs). GVCs
can bolster each other’s economies and markets with trade are an organizational method for production, trade, and
liberalization.63 Due to the lack of tariffs, the region can trade investment in which stages of production take place in
raw materials at a lower price than at the global level and thus different countries.66 They have become increasingly beneficial
produce goods at a cheaper rate. In turn, this allows for these due to the liberalization of trade, lower transportation costs,
countries to be competitive in the global market.64 One such and recent strides in telecommunications. This role in GVCs
example of this type of system being established is the Latin can be very advantageous for developing countries as it
American Integration Association established by the Treaty allows them to enter new markets and see the manufacturing
of Montevideo in 1981. It represents another step towards process for specific products.67 However, in comparison to
developing integration policies. other developing regions, Latin America has relatively low
participation in GVCs due to low productivity. This problem
One of the most prominent failed attempts towards
can be attributed mainly to the significant dependence on
increasing regional integration was the Free Trade Area of
natural resource extraction and the low wages generally
the Americas (FTAA). This proposed free-trade zone would
put into place. This dependence has led to low amounts
have encompassed all North America, South America, and
of investment into human capital and innovation, and the
the Caribbean (except for Cuba). This agreement would
integration of GVCs into the region’s economy is an essential
have eliminated tariffs, improved access to global markets
tool in raising production efficiency.68
for smaller businesses, enacted labor protections, and
significantly increased foreign direct investment. Negotiations Despite low participation rates, Latin American countries take
started immediately after the signing of the North American part in diverse GVCs ranging from agriculture to aerospace.
Free Trade Agreement (NAFTA) in 1994. Eventually, they For example, Nicaragua plays a critical role in the global apparel
failed in 2005 because of the United States’ farmers’ unfair manufacturing value chain.69 In 2008, their apparel exports
competitive advantage from federal subsidies. The condition totaled USD 530 million, 20 percent of the country’s total
62 Mikio Kuwayama, Open regionalism in Asia Pacific and Latin America: a survey of the literature (Santiago: CEPAL, 1999), https://www.cepal.
org/sites/default/files/publication/files/4380/S9900674_es.pdf.
63 Pravin Krishna, Preferential Trade Agreements and the World Trade System: A Multilateralist View (Cambridge: National Bureau of Economic
Research, 2021), https://www.nber.org/system/files/working_papers/w17840/w17840.pdf.
64 Britannica, s.v. “Latin American Integration Association,” accessed June 26, 2021, https://www.britannica.com/topic/Latin-American-
Integration-Association.
65 Amadeo, “FTAA Agreement, Its Members, With Its Pros and Cons.”
66 “Global Value Chains (GVCs),” OECD, accessed June 26, 2021, https://www.oecd.org/sti/ind/global-value-chains.htm.
67 Adnam Seric and Yee Siong Tong, “What are global value chains and why do they matter?” UNIDO, accessed June 26, 2021, https://iap.
unido.org/articles/what-are-global-value-chains-and-why-do-they-matter.
68 Rene Hernandez, Jorge Mario Martinez-Piva, and Nanno Mulder, Global value chains and world trade: Prospects and challenges for Latin America
(Santiago: ECLAC, 2014), https://repositorio.cepal.org/bitstream/handle/11362/37041/1/S2014061_en.pdf.
69 Hernandez, Martinez-Piva, and Mulder, Global value chains and world trade: Prospects and challenges for Latin America.You can also read
