MENA’s enormous trade potential is bolstered by a proactive trade shift towards fast-growing regions like Asia. This move is accompanied by a geopolitical reorientation in the same direction.
Structural trade weaknesses could prevent Latin American & Caribbean from seizing the opportunities of nearshoring, but focusing on the energy transition could be key to unlocking full potential.
Latin America's resilience is demonstrated by the stronger macroeconomic policy frameworks, improved banking supervision, and higher official reserves.