The Pacific Alliance a New Center of Gravity in Hemispheric Trade

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The latest meeting of the leaders of the Pacific Alliance on May 23 in Cali, Colombia, was the best one yet, suggesting that this new economic bloc is an emerging powerhouse in Latin America. The alliance is an effort by Chile, Colombia, Mexico and Peru to link their economies more closely together through trade, finance and labor market integration to build mutual economic competitiveness. It is one of the most dynamic and potentially significant developments in hemispheric trade relations since negotiations to form a Free Trade Area of the Americas (FTAA) broke down in 2003. In the intervening decade, China’s […]

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