Regional financial integration of the East Asian Zone and Latin America and the Caribbean

Abstract

Beginning in the 1960s, Latin America & the Caribbean and East Asia began to encourage different integration processes. Since the financial crises of the 1990s, the two regions have taken a turn in their respective strategies, giving greater emphasis to financial integration. The countries of East Asia took only a few years to propose the Chiang Mai Initiative, whereas in Latin America the Bolivarian Alternative for the Peoples of America and the Banco del Sur, today part of the Union of South American Nations, have taken longer to materialize. In 2010, a third proposal was launched, the Community of Latin American and Caribbean States, containing many proposals. This paper attempts to analyze and compare the different integration processes with the hope of improving other processes.