User:Danicroi/sandbox
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For my english project, I will edit the article on "Latin America". The section on the economies of Latin America is very short and doesn't talk about the political, fiscal, and monetary factors that influence Latin American economies. This article only talks about the economy during the cold war. I would like to add a whole subsection titled "Economy" and then include subsections for every country, since every country is subject to different macro environments.
What is currently there
Currently, there is a short paragraph stating what Goldman Sach's forecasts for the economy are along with numerical data for population and GDP. There is also a paragraph about how the economy has developed and what the standard of living is.
What I want to do
The information currently on the article is good, but I want to add and expand on it. I want to go into the specifics for the region's major economies (Colombia, Brazil, Mexico, Argentina, CHile) and include forecasts for where the economies are headed. I would make sure to include strong sources such as reports from banks, reports from government organizations, and quotes from experts in the field. I also want to study economic indicators such as GDP, unemployment, and inflation over a period of time and understand what macro factors are responsible for changes in these indicators.
Bibliography
- Breard, Pablo, Mario Correa, Guillermo Arbe, and Benjamin Sierra. "Latin America Capital Flows." ScotiaBank's Global Outlook.
- Faruqee, Hamid. Regional Economic Outlook Western Hemisphere . Place of publication not identified: Intl Monetary Fund, 2016.
- Tellez, Juana . "Colombia Economic Outlook." BBVA Research, June 1, 2016.
- "Mexico Economic Overview." The World Bank. September 16, 2016. Accessed February 6, 2017. http://www.worldbank.org/en/country/mexico/overview.
- "Chile Economic Forecast ." Organization for Economic Cooperation and Development. November 1, 2016. http://www.oecd.org/economy/chile-economic-forecast-summary.htm.
- “Brazil Economic Overview." Organization for Economic Cooperation and Development. November 1, 2016. http://www.oecd.org/eco/outlook/brazil-economic-forecast-summary.htm.
- Breard, Pablo. "Peru Executive Briefing." ScotiaBank's Global Outlook, November 1, 2016.
- Parodi, Edda. "Latin America and Caribbean Overview ." World Bank. October 14, 2016. Accessed February 6, 2017. http://www.worldbank.org/en/region/lac/overview.
Update: I will be creating a new article titled "Latin American Economy"
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The Latin American Economy is largely an export based economy that comprises 12 nations and 633 million people[1]. The total Gross domestic product of Latin America in 2015 was 5.3 trillion USD. The main exports from Latin America are agricultural products and natural resources such as copper, iron, and petroleum.
The Latin American economy contracted 0.7% in 2016[2]. Morgan Stanley suggests that this drop in economic activity is a combination of low commodity prices, capital flight, and volatility in local currency markets[3]. Analysts are expecting Latin American economies to grow substantially in 2017.Credit agencies have been cautious in Latin America and have maintained negative outlooks on Brazil, Mexico, and Colombia. The International Monetary Fund suggests that External conditions influencing Latin America have worsened in the period from 2010-2016, but will show growth in 2017[4].
Historically, Latin America has been an export based economy and seen as a good source of raw materials and minerals[5]. Over time, Latin American countries have focused their economies on export and made efforts to integrate their products into global markets. Latin America's economy is composed of 2 main economic sectors: Agriculture and Mining. Latin America has large areas of unexploited land that are rich in minerals and other raw materials. Also, the temperate climate of Latin America makes it ideal for growing a variety of agricultural products.
Infrastructure in Latin America has been classified as subpar compared to economies with similar income levels[6]. That being said, there is room to grow and some countries have already taken the initiative to form partnerships with the private sector to increase infrastructure spending[7].
The main economies of Latin America are Brazil, Argentina, Colombia, Mexico, and Chile. These economies have been given positive outlooks for 2017 by Morgan Stanley researchers[3]. The Latin American economy is largely based on commodity exports, therefore, the global price of commodities has a significant effect on the growth of Latin American economies. Because of its strong growth potential and wealth of natural resources, Latin America has attracted foreign investment from the United States and Europe.