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Mañana Today: A Long View of Economic Value Creation in Latin America
Author(s) -
García R Enrique,
Mendez Alvaro
Publication year - 2021
Publication title -
global policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.602
H-Index - 33
eISSN - 1758-5899
pISSN - 1758-5880
DOI - 10.1111/1758-5899.12938
Subject(s) - latin americans , obstacle , exploit , china , decoupling (probability) , neglect , political science , value (mathematics) , state (computer science) , quality (philosophy) , development economics , economic growth , political economy , business , economics , law , engineering , psychology , computer security , algorithm , control engineering , machine learning , psychiatry , computer science , philosophy , epistemology
This commentary concerns the significant opportunities which the global economy’s current nearshoring trend offers the Latin American and Caribbean (LAC) region owing to a US–China decoupling. Yet the region, generally, is woefully unprepared. The state of the LAC will make or break the peoples’ attempts to exploit the new potential to better themselves. Yet the short‐termist myopia and public policy neglect of politicians is the greatest obstacle to the kind of development the region needs the most: high‐quality FDI enabling educated innovators to push LAC up the rank of global value chains; or else it will be trapped in middle income, at best.