UNASUR

Following two consecutive years of recession, 2017 may mark a turning point for South America. Simultaneously mired by political scandal, high inflation, growing government debt, increasing unemployment and declining output, politico-economic turbulence in Brazil has dragged down economic activity on the continent. Though, while the new Brazilian government introduces fiscal reforms with a renewed commitment to growing the economy, there are no guarantees that Brazil’s re-emergence will necessarily benefit its neighbours if it continues its approach to regionalism.