The economies of Latin America and the Caribbean will likely contract for a second consecutive year, dragged down by South American countries that rely heavily on commodities and are more exposed to the slowdown in China, the World Bank said Tuesday.
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“South America’s exposure to commodities prices is unique in the world,” said Augusto de la Torre, World Bank chief economist for Latin America and the Caribbean. “Not even middle-income African countries have such a strong exposure.”
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