TITLE:
The Economic Development and Sustainability of Latin America and East Asia in the 21st Century
AUTHORS:
Ma. Jophine Supelana Hemor, Reagan Kapilya
KEYWORDS:
Economic Development, Sustainability, Latin America, East Asia, Comparative Analysis, Secondary Data, Political Stability, Social Progress, Environmental Sustainability
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.15 No.2,
February
27,
2025
ABSTRACT: This study explores the economic development and sustainability of Latin America and East Asia in the twenty-first century through a comparative analysis based on secondary data. Utilizing data from reputable sources such as the World Bank, International Monetary Fund, and various academic journals, the research examines key indicators including GDP growth, industrialization rates, political stability, social progress, and environmental sustainability. The findings reveal significant contrasts between the two regions: while Latin America grapples with economic instability and social inequality, East Asia demonstrates robust industrial growth and technological advancement. Both regions exhibit varying degrees of political governance, with East Asia generally maintaining greater political stability. Socially, improvements in education and healthcare are evident in both regions; however, disparities persist in access and quality, particularly in Latin America. Environmental challenges, including pollution and deforestation, affect both areas, yet East Asia shows a stronger commitment to renewable energy investments. The study concludes that Latin America has the potential to enhance its economic and social outcomes through targeted reforms, while East Asia may continue to leverage its technological advancements for sustained growth. This research contributes to a deeper understanding of the complex dynamics of economic development and sustainability, providing valuable insights for policymakers in both regions.