Leftist politicians have championed a single currency as necessary to reduce dependency on the dollar.
Lawmakers representing Bolivia, Colombia, Argentina, Venezuela, Peru and Ecuador signedMexican President Andrés Manuel López Obrador has twiceA common currency is likely a "non-starter," given how past attempts at other types of regional integration have crashed and burned over disagreements, Latin America analystIn the 1990s, 34 nations pledged to create a regional free trade agreement, but most countries rejected it by the 2005 deadline over political discord.
O’Neil said the nations could agree to build supply chains and economies of scale to attract manufacturers together; they could also invest in digital and electronic systems to jointly regulate migration , senior director for policy at The Americas Society/Council of the Americas, said most of the leaders’ emphasis on environmental conservation could spawn regional initiatives ripe for U.S. cooperation."But, at the same time, having regional success and integration could offer the an accomplishment they can champion as contrast to domestic crises," Tornaghi says.The leaders of Mexico, Chile, Colombia, Peru and Ecuador are set to meet Nov. 24 for the Pacific Alliance summit .
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