As the Mercosur trade bloc seeks to define its role in political and diplomatic disputes, the economy of the region continues to change. With many calling for new reforms and more open integration, questions remain about the group’s prospects. While Paraguay is the smallest economy in Mercosur, the country’s potential largely depends on its trade relationships. Moreover, with continued economic growth above that of most of its neighbors, Paraguay has the opportunity to be a leading voice in Mercosur’s next steps.

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