A Study of Latin American Integration: Current Status, Challenges and Causes

Abstract

Latin America and the Caribbean, as the first region among developing countries to practice integration, have shown a segmented development trend due to specific historical contexts. In the post-pandemic era, the development of Latin America has been severely impacted by the pandemic. The development model, where individual nations prioritize national interests over regional ones, has caused stagnation or even regression in Latin American integration. This paper will analyze the current state of Latin American integration from three perspectives: economic, political, and social. Economically, the recovery pace in Latin America lags behind other regions globally. Although there has been some economic rebound, the recovery remains weak, and economic growth continues to slow. Politically, several countries are holding elections this year. Despite the dominance of left-wing forces, right-wing forces are showing signs of gaining momentum, leading to intense struggles between left and right, impacting political stability. Socially, the poverty rate in Latin America remains high, compounded by new issues such as population aging and social stability. In the context of globalization, regional cooperation is a crucial means for countries to promote coordinated economic development and reduce development gaps among member states. It aids in the development of member states and enhances international competitiveness. Actively promoting Latin American integration is beneficial for the region's economic recovery.