Wednesday, July 13, 2016

Brexit Impact on Latin America

The good(ish) news: Moody's says Brexit will have a minimal impact on Latin America. The main problem would be if Brexit caused more downward pressure on commodity prices, along with just general global uncertainty. FWIW, Andres Oppenheimer uses mostly the same logic to say the impact will be quite bad.

The bad news: the reason is that Latin America doesn't trade much with either Great Britain or the European Union. In other words, trade remains less diversified than it should be. These days Latin America is much more affected by China.


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