Three trends are likely to characterise the global projection of Latin America in 2012: the rise of Brazil; the mushrooming of projects supposedly aimed at promoting Latin American unity; and summitry with the US, the EU, and China.
Today, Mercosur is more of a dysfunctional set of rules, decision-making procedures and abstract principles rather than a well-functioning case of open regionalism. Mercosur’s inoperativeness condemns its member countries to remain relatively isolated from the dynamic developments taking place in the global economy.
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