Many of these economies also contracted sharply, but thus far they have recovered more slowly than economies in Asia. In the case of Latin America, closer links to the U.S. economy (especially in the case of Mexico) and greater dependence on commodity exports (whose prices declined during the most intense phase of the crisis) were additional sources of weakness.
Not enough has been done up to now to make appropriate plans for an affordable, timely and adequate retraining of workers, to invest resources in education, and to combat poverty and inequality. In the shorter term, global risks are still tilted to the downside.