Latin America continues to turn to the Left. Michelle Bachelet became president of Chile in March and has promised fiscal reform; Salvador Sanchez Ceren took over as president of El Salvador in June and will tackle inequality; and in Costa Rica too, the centre-left Luis Guillermo Solis assumed power
Recent developments indicate that Pacific Alliance member states have their gaze firmly set upon Asian-Pacific and ASEAN economies. Can a Pacific Alliance deal with China or ASEAN serve as a powerful incentive to force the ratification of the Trans-Pacific Partnership (TPP) through the U.S. Senate?
Latin America is witnessing an exponential rise in regional integration of business houses. The resource-rich nature of most Latin American economies has led to an inward concentration of investment, which makes it an extremely interesting prospect for Indian investors.
The newly-formed Pacific Alliance bloc seems more like a political club to counterbalance the Atlantic-facing, Brazil-led Mercosur group. However, the bloc accounts for 30% of India’s trade with Latin America. Can India engage the group so it is not left out from their Asia focus?