Globalization:  Latin America Improves, Brazil Worsens

BY JOACHIM BAMRUD

Despite growing populism and political tensions, Latin America is becoming more globalized, according to the 2006 Latin American Globalization Index from Latin Business Chronicle. But Brazil, Latin America’s largest economy, managed to become the least-globalized economy in the region.

The index of 19 countries looks at six factors that measure a country's links with the outside world:

• Exports of goods and services as a percent of GDP.
• Imports of goods and services as a percent of GDP.
• Foreign direct investment as a percent of GDP.
• Tourism receipts as a percent of GDP.
• Remittances as a percent of GDP.
• Internet penetration.

Panama cemented its position as the most globalized country, while Brazil replaced Argentina...