Keywords
CIVETS
convergence
emergent economies
How to Cite
Abstract
Colombia, Indonesia, Vietnam, Egypt, Turkey,and South Africa guided its foreign economicpolicies to comply with the Washington Consensusmeasures and implemented strategies toattract foreign investment to their territories as apossible way out from the external debt crisis ofthe eighties. Once multilateral trade rules wereagreed under the World Trade Organization(WTO), those countries encouraged its domestictrade policies to cope with both the organizationprinciples and international investment standardspromoted by the World Bank. After theCIVETS acronym was created in 2009 as a groupof promissory emergent economies, transnationaleconomic groups focused its attention on the“new investment miracles”, but none interest has been shown by the CIVETS governmentsto coordinate its foreign economic policies ininvestment issues. The current Colombian administrationself-claimed the leadership of thegroup, showing the political will to go further,but without followers CIVETS keeps as an acronym.I argue that emergent economies recognizedin CIVETS exemplify a case of foreign economicpolicies convergence facilitated by systemicreasons, such their common necessity to overcomehistoric processes of economic transitionand insert successfully to the world trade; aswell as domestic variables such the ideas of theCIVETS decision policy makers.This journal is registered under a Creative Commons Attribution 4.0 International Public License. Thus, this work may be reproduced, distributed, and publicly shared in digital format, as long as the names of the authors and Pontificia Universidad Javeriana are acknowledged. Others are allowed to quote, adapt, transform, auto-archive, republish, and create based on this material, for any purpose (even commercial ones), provided the authorship is duly acknowledged, a link to the original work is provided, and it is specified if changes have been made. Pontificia Universidad Javeriana does not hold the rights of published works and the authors are solely responsible for the contents of their works; they keep the moral, intellectual, privacy, and publicity rights.
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