Repercussions in Latin America and the Caribbean of the war in Ukraine: how should the region face this new crisis? 6 June 2022
A. Globalization is slowing: the succession of crises has weakened the world’s production structure and its growth
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The war between the Russian Federation and Ukraine has created
B. The world in 2022: slower growth, higher inflation, interest rate hikes.............3
an international crisis. The effects of that crisis on Latin America and the Caribbean must be analysed considering almost two decades of external shocks that —despite different directions and intensities in each country— have worsened investment and production conditions in the region, against a backdrop of lingering and generally growing uncertainty. Major external shocks include the 2008–2009 global financial crisis, economic tensions between the United States and Europe, on one hand, and China, on the other, from 2017 onward, the coronavirus disease (COVID-19) pandemic from 2020 onward, and now the war in Ukraine.
These shocks have triggered feedback loops of changes, have
A. Globalization is slowing: the succession of crises has weakened the world’s production structure and its growth...........1
C. Effects on the region: large differences between countries........................................5 D. Another setback in the fight against poverty and extreme poverty..................... 10 E. Food security: a priority.............................13 F. Fossil fuels: united the region stands, divided it falls..............................................16 G. Policies for the short and long term..........18 Bibliography.....................................................23
weakened globalization as an engine of growth and have led to geopolitical motivations taking precedence over efficiency (see figure 1).
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