Latin America faces multi-polar trade
The region faces significant challenges to achieve a greater quality insertion in world trade. These are some productive activities where it could show its strengths.
Faced with the potential shown in past years by the BRICS, it is important to think about what challenges and opportunities Latin America may generate in a multipolar high-friction context.
The study "La Infraestructura en el Desarrollo Integral de América Latina. Fortalecer las capacidades logísticas y competir exitosamente en los mercados mundiales de servicios logísticos: imperativos y oportunidades para América Latina" (Infrastructure in Latin America's Comprehensive Development. Strengthen the logistic capacities and compete successfully in the logistic services world markets: imperatives and opportunities for Latin America) (CAF 2013) states some challenges that will allow the region to strengthen its position in the world economic exchange:
- Processed foods. Latin America can build competitive positions in processed foods with regional identity, renowned brands and, in addition, a "green" positioning which is "sanitary and ecologically reliable/traceable" which will be an increasingly competitive differentiator.
- Industrial activities. With the new trend toward reshoring, or repatriation of productive activities, countries such as Mexico have reencountered a historic opportunity; Brazil will be able to compete for a better position, and countries with a certain industrial capacity such as Argentina and Colombia, will be able to compete in activity niches that are relocating toward "the Americas".
- Technology. The "export from Bangalore" model is leaving room to a multipolar or near shoring model, where clients seek a greater physical and cultural closeness, and where several countries of Latin America have the resources to capitalize on these new opportunities.
- Tourism and education. The successful experiences in tourism and educational services in Australia and New Zealand -countries which have transformed these two sectors into large export industries and soft power industries (or prestige/cultural influence)- are a model to imagine the potential of the opportunity that Latin America faces.
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