Beschreibung:
Two recent events originating outside Latin America have had powerful negative effects on the growth process under way in most countries of the region. These were the OPEC oil crisis of October 1973 and the ensuing economic decline in the industrial world in 1974 and 1975—the worst international recession since World War II. If the trends represented by these events continue, they threaten to render unmanageable the acute short-term problems they have imposed on countries that were already in difficulty, such as Argentina, Chile, and Uruguay. Moreover, emergency measures undertaken by several governments have tended to distract attention from long-term pressures that are inexorably building up in the region and may even aggravate these pressures before they are recognized as requiring a concerted regional response.