The Jasmine Revolution of Tunisia was the first in a series of democratic uprisings that extended to a number of North African and Middle Eastern countries, in what became known collectively as the Arab Spring. Earlier this month, Tunisia’s new unicameral parliament held its inaugural session at the nation’s capital. Although the landmark transition towards a new republic has been fraught, a novel, egalitarian constitution was adopted, while a majority of the other participating nations deteriorated into extremism.
globalEDGE Blog - By Tag: mercosur
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Free trade agreements (FTAs) have long been in controversy. By some they are hailed as the end all be all of economic growth, while others view them as a tool for the strong to exploit the weak, or a hindrance of worker’s prosperity. While there are degrees of truth to both arguments, the fact remains, trade increases, economic activity increases, and average wealth increases. FTAs need to be utilized with caution however, as many industries in many countries are not up to the competitive standards of the established powerhouses of developed countries. In addition, first-mover advantages often need to be cultivated in insulated environments where kinks in production can be removed and experiments explored without loss of the initial advantage. All of that being said, FTAs drive competition, and competition, in the end, is the best driver of economic growth and innovation.
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A recently published report in the Latin Business Chronicle highlights the fact that cross-border trade among Latin American countries has grown significantly in the recent past. Imports, exports and mergers among Latin American countries that were unthinkable a decade ago have begun to play a key role in the business environment in that region. And although several economies in Latin America are complementary (i.e., they compete with one another), new alliances and trade agreements within Latin America have recently surfaced.