POLITICAL AND ECONOMIC CHALLENGES OF LATIN AMERICAN COUNTRIES UNDER THE OBAMA ADMINISTRATION IN THE USA

Abstract

The article is devoted to the deepening trends of the US influence on the countries of Latin America and the Caribbean. In terms of trade, economy and finance, Latin America is increasingly “squeezed” between the US and China, which account for more than half of the total trade turnover of Latin American countries, as well as the most important part of investments and credit resources entering the region. This circumstance has a strong impact on the structure and direction of foreign economic relations and foreign policy contacts. Significant differences in the near future of the foreign policy of Latin American countries are outlined as determining the actions of the US and China, which are involved in a hybrid war for dominance in the world economy and trade. A promising research vector of public opinion of Latin Americans regarding the resolution of trade wars and other types of US-Chinese confrontation can harm the development of the world economy and harm the most important interests of the region, which is critically dependent on international commodity and financial markets. It is noted that the main task is to diversify the international relations of Latin American states, expand the circle of their economic and political partners. Only in this way can Latin America’s hyperdependence on the USA and the PRC be weakened, as well as overcome the negative consequences of protectionist policies and trade wars initiated by the US administration. It is substantiated that the activity is of a diplomatic and strategic nature. Great Britain and Germany are traditionally present in the region, deepening economic, trade, and investment ties with Latin American countries. Iran first became closer to the region, developing ties with Venezuela. The features of the LACB policy on recovery after a protracted decline in economic activity are studied. After a two-year decline in indicators in 2016, there was an expansion in 2017 and continued to recover in 2018. It is argued that the region has been facing uncertainty stemming from external factors that could undermine growth.