Foreign Affairs blog USA misses Latin America as Treasure Trove

The United States' Missed Opportunity in Latin America: Economic Security Begins Closer to Home, O'Neil, Shannon K.  Foreign Affairs; New York Vol. 103, Iss. 2,  (Mar/Apr 2024): 134-147. 

The primary focus of this article, The United States Missed Opportunity in Latin America: Economic Security Begins Closer to Home, from Foreign Affairs Magazine is highlighting the national security concerns and economic strategies the United States has especially regarding supply chains and its relationships with Latin America. It was published in the March/April Edition of this year. So, the information is quite recent and relevant. The article presents a cohesive argument that the United States is missing the boat. It needs to strengthen our economic security for our nation by engaging more deeply with Latin American countries for the trade of essential and critical minerals that have much to offer the USA and all of Latin America. All regions and many economies have the potential for collaboration and mutual profit assuring bright futures for these individual states on the international stage and individual Gross National Products (GNP). 

Why should the USA engage more with Latin America? How much time do you have to read this blog😂? 

Latin America is not only the greatest neighbor of North America (in my humble opinion), but its people also share common histories that go back hundreds of years. To what am I referring? Mexicans have been residents of the United States since before the United States was named the United States. The relationship between the United States and Panama can cannot demonstrate anything but partnership and friendship by the building and still solid relationship between the two states and the construction of this great Canal. The French may have started the project, but the United States finished it. And although the administration of the Canal was given to Panama in 1999 (as promised in the United States by the signing of the Panama Canal Treaty)  

This is just a small yet large example of what happens if the United States has the vision to unify with the wealth of critical minerals and natural resources available in Mexico, Central and South America and the Caribbean. This genius endeavor could not only be lucrative, but it also has the potential to show the rest of the world how collaboration should look with one’s neighbor on the international stage. It would also rationally pursue our national interests.  

Findings show that since 2020 China produces 85 percent of the critical minerals that go into high-tech devices. They also boast 77 percent of the world's battery-manufacturing capacity and make more than half the electric vehicles sold worldwide. China is portrayed as a significant competitor to the United States, particularly in the context of supply chain dominance and critical mineral processing. The article emphasizes China's growing influence in Latin America and its strategic intent to displace U.S. economic power globally. 

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This article proclaims that Latin America offers the best hope for the United States to diversify and relocate its vulnerable supply chains for critical minerals, semiconductors, pharmaceuticals, and large-capacity batteries, which are crucial for U.S. security and prosperity. (“The United States’ Missed Opportunity in Latin America”) And I agree with their proclamation. 

Lastly, check this out ... 

Latin America is the one region in the world with which the United States has an existing trade and market advantage, having already inked free trade agreements with 11 countries there. The Inflation Reduction Act is a significant piece of legislation aimed at incentivizing domestic production of electric vehicles and critical minerals, reflecting the U.S. government's strategy to enhance economic security. It is mentioned as a tool to encourage U.S. companies to source materials from countries with which the U.S. has free trade agreements. 

We could talk about President Biden and his role in all this but let’s just keep this neat and clean cut. There have been strides made in the Biden Administration to address these issues. Let’s pray that we can just continue to build on strong foundations.