Director of MIT Sloan’s Office of International Programs Stuart Krusell
What do the economies of Latin America and China have in common? They are both extremely interdependent on the other for growth.
China purchases a significant percentage of raw materials from Latin America, which are used in the manufacturing of goods. Many of those goods are then sold back to Latin America. This cycle has increased over the last decade, as China’s trade with the region has surged more than 20-fold since 2000. So while they are competitors, they also are trade partners. It’s a slice of globalization that is representative of the larger world.
China and Latin America’s relationship becomes even more intriguing when you consider the geo-political environments of both regions. What is the impact of Brazil’s elections on its trade partnership? Populist rhetoric to keep jobs local and not to be so dependent on China is appealing to many, but what happens to the region’s economy if trade with China decreases? Further, how do the corruption investigations in China impact trade? If China’s GDP is affected, it could mean the country is buying fewer natural resources from Latin America.
Ask almost any economist or government official about how they measure a nation’s progress and they are likely to answer with three letters: GDP, or gross domestic product. But just as there is growing disenchantment with the way we currently run our economies, there is also now mounting discontent with GDP as the main and sometimes only indicator of social and economic progress. That’s why I am partnering with others to launch the Global Wellbeing & Gross National Happiness (GNH) Lab to explore new ways of measuring and implementing well-being and progress in societies around the world. Read More »
Brazil has been generating a significant amount of buzz in the venture capital and startup community recently, fueled in part by media coverage of several high profile firms “planting their flags” in the country with dedicated funds or investments. A growing awareness of the burgeoning Brazilian startup scene, and Brazil’s role as host in the upcoming World Cup and Olympics, has further elevated the country’s profile. Read More »
Launched in 2009, the MSMS Program offers top MBA or master’s degree students from non-U.S. business schools an opportunity to enhance their expertise in specific management concentrations. Students can customize their curriculum by enrolling in MIT Sloan elective classes or electives in other MIT departments. They also can register for electives at Harvard University.
Jonathan Weisleder, MBA 11 and Alvaro Uribe Velez, former president of Colombia
A great way to measure the success of an event is the educational value of its content. Based on that, our recent MIT Latin American Conference was a huge success. Not only did our speakers openly discuss sensitive topics such as the need for democracy and security, but participants were amazed by how much they learned from — and were inspired by– the speakers.
With the theme, “From Potential to Reality,” we invited business and government leaders from throughout Latin America to discuss the opportunities and challenges for economic development in their countries. A repeating message throughout the event was that the opportunities in the region are immense and the key is execution.