ABSTRACT
International trade in goods and services increased two to three times faster than global gross domestic product between the 1990s and the 2008 crisis. Following the great depression of 1929, between 1935 and 1980, some Latin American countries underwent considerable industrialization, known as import substitution, or growth driven by an emerging domestic market. In the 1960s and 1980s, a few Asian countries experienced rapid industrialization through both relocations and large state intervention. In the 1990s and especially in the 2000s, there was a shift in the international division of labor with the development of the Internet, the possibility that some countries could adapt their offer very quickly to sudden changes in World demand. Since 2015, most Latin American economies are depreciating their national currencies against the dollar. It has to be said that the Latin American countries have missed the new industrial revolution by adopting a relatively passive attitude towards globalization and the rents that could be derived from them.
