Search

The main objective of this paper is to recall Sung-Hyong Rhee by examining his lifelong academic legacies. His career has left a sizable legacy of research results, ranging from Latin American politics and economics to studies of cultures and histories. In this paper, we give special attention to his research about Latin American economies. His studies in this field focused on the criticism of neo-liberalism and appraisal of its alternatives in Latin America. To examine the lifelong academic achievements of Sung-Hyong Rhee, we focus primarily on the four books in which his research has been felicitously gathered: Mexico in the Times of IMF, Light and Shadow of Neoliberlism, Latin America. Politics and Economics of the Perpetual Crisis, and A Great Flood. Sung-Hyong Rhee's interest in Latin American neo-liberalism began with his analysis of Argentina, and extended to Mexico, Peru, Chile, Brazil, and even Venezuela. Alongside the analyses of the general socioeconomic conditions behind each country's neo-liberalism he shed light on the concrete mechanisms of neo-liberal policies, such as privatization, regional integration, and as well as on the alternatives to neo-liberalism in Latin America. [ABSTRACT FROM AUTHOR]

The leadership competition has become one of the most salient features of the Latin American 'new' regionalism since the 2000s. Venezuela and Mexico have actively engaged in the regionalism drive, competing against the two hegemonic powers (the USA and Brazil) in the region. As a result, various institutions have been created to deepen the different types of regional cooperation. These institutions included the Venezuelan-led Alternativa Bolivariana para la América (ALBA) and the Mexican-led Plan Mesoamérica besides the Unión de Naciones Suramericanas (UNASUR) driven by the Brazilian regional leadership. Latin American 'new' regionalism includes leadership competition among the two middle powers (Venezuela and Mexico) and the one major power (Brazil). The goal of this paper is to make a modest contribution to understanding Latin American 'new' regionalism by explaining the similarities and differences between Venezuela and Mexico in the current leadership of 'new' regionalism. In conclusion, the expansion of American hegemonic leadership to the south in the 1990s was the primary force behind the Brazilian-led Latin American regionalism. The leadership competition among the major powers in the region created a leadership vacuum to be filled by a middle or small power. The president's strong will and top-down decision-making are common points between Venezuela and Mexico in the regionalism leadership. Contrary to the Mexican case, Venezuela has consistently opposed the USA-led Free Trade Area Agreement of the Americas (FTAA) and has been strategically linked with Brazil in regionalism matters. [ABSTRACT FROM AUTHOR]

This paper presents the argument that the economies of Latin America had a relatively rapid recovery from the crisis, a recovery which cannot be attributed to the Latin American countries' domestic macroeconomic policies. Although macroeconomic policy cannot be ignored as important for good economic performance during the boom period and recovery, we demonstrate that the recovery has been based upon a combination of favorable external conditions. To show the limitations of macroeconomic policies we analyze their characteristics during the economic boom period, which is considered erroneously countercyclical. Finally, we examine how policies affected the recovery, revealing their limitations. [ABSTRACT FROM AUTHOR]