Globalization: Latin America Improves, Brazil Worsens

Panama is the most globalized country of Latin America, and Brazil is the least, according to the 2006 Latin American Globalization Index from “Latin Business Chronicle.” Member nations of the Central America-Dominican Republic Free Trade Agreement lead the list of most globalized nations in Latin America, with all except the Dominican Republic improving scores. The index ranks countries on exports, imports, foreign direct investment, tourism receipts, remittances and internet use. The index does not predict globalization taking off in Brazil, Uruguay, Venezuela, Argentina and Paraguay any time soon – because trade agreements with the US or Europe are not imminent. One analyst suggests that countries should avoid putting all their “eggs in one basket” – such as the US or China – and should instead deal with a diverse group of nations. –YaleGlobal