Paper Example: Globalization and Reform

Latin American countries are among the countries that took a long before their business performed at an international level and could not be rated on an international scale. Latin countries are comprised of countries that are in the South American part. They are mostly Latin speakers and have a similar history in terms of independence and other social factors apart from sharing similar languages. The countries of the case study are categorized into two. The first groups of countries are Chile, Brazil, Argentina, and Mexico which have been referred to as the leading countries (Santiago, Renato et al, 2019). They are called leading countries since their economy grew earlier as compared to other Latin countries in the American Continent. The other countries are referred to as the Andean Countries which comprise of Colombia, Venezuela, Peru, Ecuador, and Bolivia. Cuba is also one of the Latin countries which have been studied but a different level for different reasons. The country in each group has got similarities and differences in their journey to globalization and reform.

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Similarities

Both the leading countries and the Andean countries gained their international recognition in business after different struggles which involve recession periods, inflation, debt, and other economic and financial constraints. Most of the countries went into the struggle after independence and the main cause of the economic struggle is political instability after independence.

The common thing about the Latin countries as far as globalization is concerned is that they were able to rescue the situation not earlier than the 18th century. Other countries were still struggling with polarization until the 20th century (Santiago, Renato et al, 2019).Latin American has faced similar challenges of war, political conflicts and polarization since inception. After the countries in southern America got independence, there was a scramble for power and divisions among parties, socialists and even ethnic groups. The political constraints caused violence which affected the progressive activities that would have made them enter the new era of globalization.

Lastly, most of the countries depend on indigenous activities like agriculture and mining for instance Peru has oil and gas which has developed an international influence. Venezuela, on the other hand, was able to gain international recognition through plantations and Ranching.

Differences

Although most countries entered the era of globalization in the 19th century, they intertwined in different years and for different reasons. The leading countries were able to be recognized internationally since they gained stability earlier. Chile, for instance, had achieved free-market reforms by the 1980s while Brazil had a financial crisis until 1998. The struggles which the countries put down their international influence in business. The country was dragged behind by political instability corruption and underdevelopment

Latin American countries have different opportunities that they depend on for trade. Some countries are rich in minerals while others are not. Peru is one of the countries which are rich in minerals. It has oil and gas which has helped the country to influence the international market through the export of the product. Venezuela also has oil and has benefited from it just like Peru; Other Latin countries depended on other trades to beat the international market.

Political instability was the major challenge that dragged the Latin countries for long before becoming part of the international platform in business but other challenges contributed to the struggle in different countries. Cuba was affected due to the disintegration of the Soviet Union in 1991. Unlike other countries, Bolivia had the smallest population and was mostly affected by wars one of them being the "water war".

Conclusion

In conclusion, every country has its unique way which salvaged itself from the challenges which they were facing and at different times. Brazil managed the transition from military rule after 1974. Argentina experienced a sudden transition after strikes and inflation. Ecuador, on the other hand, was able to influence the international market through the production of cacao.

Work Cited

Santiago, Renato, Jose Alberto Fuinhas, and Antonio Cardoso Marques. "Income inequality, globalization, and economic growth: a panel vector autoregressive approach for Latin American countries." The Extended Energy-Growth Nexus. Academic Press, 2019. 57-96.