By Laneydi Martínez Alfonso, 2015-2016 President Néstor Kirchner Fellow
Understanding how economic shocks are spread across countries, through which mechanisms, and ultimately, how economic or cyclic interactions operate between United States and Latin America and the Caribbean (LAC) has been a traditional subject of study for numerous specialists and academics. As the globalization process has intensified, growing and new levels of world interdependence has become a major global field of study. Traditionally, the region of Latin America and the Caribbean has manifested a deep dependence on US economic performance. Thus, the cyclical movements of the US economy have been reflected in the regional performance through general mechanisms that interconnect these economies. However, the transmission of cyclical impulses between economies and cyclical synchronization is not a static process; it evolves and changes to the same extent to which transformations occur in the global economic context.
The recent global economic crisis catalyzed the emergence of important geo-economic and geopolitical changes that are changing some of the traditional patterns of transmission of shocks to the region. This paper aims to analyze these transformations in the context of the economic relations between the US and Latin America and the Caribbean, and in the light of changes in the international economy in the XXI century …