Economic Integration in Latin America: History and Theory

Economic integration in Latin America involves countries working together to reduce trade barriers, such as tariffs and import taxes, to boost economic growth and cooperation. Historically, efforts include regional organizations like MERCOSUR and arrangements aiming to enhance trade, stability, and shared development. Theoretically, integration ranges from simple free trade agreements to full economic unions, where nations coordinate policies and economies. It seeks to create larger markets, increase competitiveness, and promote development, balancing national interests with regional growth. This process reflects both political aims and economic strategies to foster regional stability and prosperity.