2.7 LATIN AMERICA

The political environment in Latin America has been unstable, and changes of government are the main causes of social and economic instability. In particular, during years in which general and presidential elections are held, public and private investments tend to be greatly reduced. Under these circumstances, the whole market remains in a wait-and-see state, which brings a downturn of one to two years. Political turmoil has brought economic turmoil.