Young leaders disagree on impact of trade in Latin America

By Daphne Morrison
September 24, 2008

In the midst of the U.S. presidential campaign and a looming financial crisis, 25 young leaders from across the Americas gathered to discuss the future of the hemisphere. Of particular concern was how the meltdown on Wall Street might affect tenuous Latin American and Caribbean economies. Guest-speaker Riordan Roett, of John Hopkins SAIS, painted a particularly bleak picture, forecasting no change in the low priority the U.S. accords the region.

Additional Resources Audio of Rep. Clarke's speech is available here. Audio of Enrique Iglesias is available here. A photo gallery is available here. A complete participant list is available here. A list of participant biographies is available here.

The young leaders themselves voiced concerns throughout the day about persistent poverty and inequality, increasing gun-violence, and threats to personal security and institutional integrity related to the drug trade. Participants also pointed to positive changes in the region, including economic growth, increasing commodity exports from South America, and the growing middle class.

The overall effects of trade, however, remained contested. Some delegates felt that the benefits of trade have been negligible and more attention ought to be paid to market failures and the populations and economic sectors that the market excludes. Others felt that trade has had an overall positive impact on the region and that future efforts should focus on mitigating the obstacles to trade fluidity.

The 25 delegates from seventeen countries of the region gathered on Wednesday, September 24th for The Future of Western Hemisphere Affairs: A Conference of Young Leaders. A first of its kind, the conference brought together an eclectic mix of trailblazers, among them top journalists, senators, mayors, and entrepreneurs—all exceptionally accomplished in their fields

The Inter-American Dialogue, in conjunction with George Washington University and the Ibero-American General Secretariat (SEGIB), sponsored the event which opened with a reception on Capitol Hill on the evening of Tuesday September 23rd hosted by Representatives Eliot Engel (D-NY), Jerry Weller (R-IL), Hilda Solis (D-CA) Henry Cueller (D-TX), and Yvette D. Clarke (D-NY).

Held at The George Washington University School of Business Center for Latin American Issues, the discussions examined the economic, political, and social challenges confronting Latin America and the Caribbean, and the future of inter-American relations.

A working lunch featured a keynote address by Enrique Iglesias, secretary general of SEGIB and former president of the Inter-American Development Bank. Iglesias analyzed the economic and political evolution of Latin America and the Caribbean, lamenting that “the great hope of regional integration” has not been fully realized. Likewise, Iglesias decried the lack of technological integration in the region but praised Brazil for becoming “a true international player for the first time in the history of Latin America.”

The 25 young leaders were joined by moderators, lead-off speakers and commentators including Deputy Assistant Secretary of Sate Roberta Jacobson, World Bank vice president Pamela Cox, and José Octavio Bordón, former ambassador of Argentina to the United States.