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Latin America’s growth prospects: Made in China?

Tatiana Didier's picture

Latin America's Growth prospects:Made in China?

Global turmoil. Growing prospects of another recession. Crisis in the Eurozone. China’s role as a global growth and recovery engine thrown into question.

The current situation looks worrying enough as it is for Latin America –and the rest of the world for that matter- but the region’s growth prospects should be looked at beyond the current juncture and on the merits of its long-term strengths.
 
Here’s why. The last ten years or so have been very good for many countries in Latin America and the Caribbean. They have witnessed the consolidation of a stable and resilient
macro-financial framework, relatively high growth rates, and advances in the equity agenda.

This new economic face of the region was perhaps most clearly portrayed by a rather robust performance, especially of South American countries, in the context of the recent global crisis. In effect, compared to the middle-income country average, the region’s recession in 2009 was relatively short-lived and, with the notable exception of Mexico, remarkably mild, which helped to make its recovery in 2010-2011 stronger.

Join Us for Two Exciting Events This Week!

Joe Qian's picture

2011 Flagship: More and Better Jobs in South Asia
Thursday, September 22, 2011 from 2:30PM to 4:30PM


 

Droughts and Famines in East Africa: From man-made problems to man-made solutions

Wolfgang Fengler's picture

How can droughts and famines be avoided? This is the big question many conferences and summits have grappled with in recent weeks. Unfortunately, it will be very difficult to avoid droughts in future because climate change will put more pressure on scarce land and extreme climate events, both rains and floods, will likely occur much more frequently — and even more unpredictably.

The first famine I remember was brought on by the horrible drought in Ethiopia in 1984. At that time, I was a boy in high school and one of Germany’s most famous actors, Karlheinz Boehm, visited our school to mobilize funds to help the suffering Ethiopians. He had previously established the charity, People for People. One of the silver linings of today’s suffering is the outpouring of financial support by ordinary Kenyans who have been moved by the intense suffering of their fellow citizens.

So how can we avoid this same crisis two years down the road? Or as my Kenyan friends say: How do we keep from begging again for money?

Economic Integration: A Quasi-Common Economy Approach

Otaviano Canuto's picture

Photo: © Dana Smillie / World BankEurope and Asia provide two different models of integration and growth. The former relied on political willpower to create a unified common market; the latter based its integration on a buildup of regional trade, investments, and production networks—eschewing a formal link-up in political or monetary terms.

Join us to Discuss Bangladesh's Economic Prospects!

Naomi Ahmad's picture

We've launched a two-day online discussion on Bangladesh's Economic Growth at the World Bank Bangladesh Facebook page. Through the online discussion, we hope to initiate dialogue with you on Bangladesh's economy, the possibilities and the binding constraints for its continued growth.

Our economists will answer your questions and moderate the discussion. We encourage you to share your thoughts or ask questions on these pertinent issues and are looking forward to hosting more discussions on different themes.

Join us, leave comments, and invite your friends!

What? Bangladesh's Economic Growth: How can Bangladesh can embark on its journey towards higher growth?

When? August 25 and 26, 2011

Where? World Bank Bangladesh on Facebook

Let us know what you think!

Protecting the Minnow - Lesotho Economic Update

As uncertainty increases about where the global economy is headed and whispers grow about a “double-dip,” spare a thought for Lesotho.

A small developing country (population less than 2 million), Lesotho is located in one of the most resource-poor parts of Southern Africa.  Around 37% of households live on less than $1/day and about half are below the national poverty line. As a small and relatively undiversified economy, heavily dependent on foreign markets, Lesotho is very vulnerable to shocks. It is also ill-equipped to deal with them.

Financing Africa: Through the Crisis and Beyond

Thorsten Beck's picture

In mid-September, the African Development Bank, the German Federal Ministry for Economic Cooperation and Development and the World Bank will launch Financing Africa: Through the Crisis and Beyond , a comprehensive review documenting current and new trends in Africa’s financial sector and taking into account Africa’s many different experiences. During the coming weeks and leading up to the formal launch of the book in Ethiopia on September 15, we will give a sneak peek of the book’s main findings and recommendations. In this first post, we’ll summarize our main messages.

Welcome to Africa, Welcome to Naija

Pierre Strauss's picture

Backpackers looking for an intense experience are constantly looking for new regions to explore. While Asia is nowadays swamped by mass tourism, and Western destinations lack originality, Africa remains the ultimate well-kept secret for unconventional tourism – tourists are heading into the rain forests of Madagascar and on safari in South Africa. But hurry up because more and more folks are traveling south.

Pierre Strauss (right) with Abubakar Wakili in Kano state, NigeriaDespite the economic downturn and a general decline in tourism worldwide, tourism in Africa is growing faster than in the rest of the world. African tourism arrivals grew from 37 million in 2003 to 58 million in 2009. The continent receives more tourists than the Caribbean, Central America, and South America combined. For instance, in Nigeria-the most populous country in Africa-we welcome more than three million visitors annually, largely business men from neighboring countries and the Nigerian Diaspora visiting friends and relatives.


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