Latin American Policy Options for Times of Protectionism

A protectionist stance from the US looms large as a policy concern for Latin America, where many countries have chosen a growth model based on increased integration with the rest of the world. It may force a major policy revision involving trade and financial sectors. Moreover, the region may be impacted even if protectionist policies are geared to other regions, e.g., China, given that they may result in a deterioration of commodity prices. 

What should Latin America’s response be? What are the alternative forms of trade integration and markets creation that the region should explore? What is the role for monetary, fiscal and financial policies? What are the mistakes of the past to be avoided? These are among the key and timely issues that the Latin American Committee on Macroeconomics and Financial Issues (CLAAF) will address.