Florida to Experience Fall-out from Faltering Latin American Economies

 
In an article in the Sun-Sentinel (Business and Technology section, November 12, 2000), Doreen Hemlock and Peter Gregory provide a personal dimension to the unique relationship between Latin America and the Caribbean and the South Florida economy. From recent UNCTAD and ECLAC reports to press accounts of instability in parts of South America, the authors predict lean prospects for many of the region's economies. Using Jamaica as an example, they point out the consequences of faltering economic and social structures in these areas for the local South Florida scene.

Jamaica is not the only country in trouble. Many Latin American economies are faltering, including Brazil, where the balance of payments deficit was $523 million in October. These poor results mean that this year Brazil will not achieve the positive trade balance it had expected. Faltering economies in Latin America mean less trade moving through Florida's ports and less tourism from the region. It also means more immigrants, as Hemlock and Gregory point out. A recent survey in Jamaica found that 65% of respondents said they'd move to the United States if given the chance - the highest "yes" rate so far on the question asked by the noted Stone Poll research group.

Although the article doesn't use the term "failed nations," this is the phrase that comes to mind when reading the descriptions of Ecuador and Haiti. To this list, we would have to add several other nations in the hemisphere, including Paraguay and, in many respects, Colombia. No matter who is ultimately elected president of the United States, he will be forced to consider the US national interest in Colombia. Florida also has an interest there, due to its strong links to the Americas. The state may have its own role to play to promote peace and stability in the region.

http://www.sun-sentinel.com/money/daily/detail/0,1136,36000000000125384,00