Susan Segal: Deglobalization Means Fresh Challenges for Latin America
A shakeup in supply chains recalls past changes in the macroeconomic conditions facing emerging markets.
This article is adapted from AQ’s special report on supply chains When considering the push toward modern globalization, I am reminded of the early 1980s. At the time, we were feeling the effects of inflation, high interest rates and (of course) high energy prices. Everywhere you turned, there were imbalances as emerging market countries ran high fiscal and current account deficits. Bank credit was abundant. Then the music stopped, and countries needed to adjust their economic policies. They had to reduce their deficits, restructure their debt and return to growth. In the...
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