The History and Future of Peru’s Fast Growing Economy

Abstract

After the United States’ withdrawal from the Trans-Pacific Partnership (TPP), the world of free trade entered a free-for-all, as countries searched for a viable course of direction toward a new free trade agreement. Peru seems to be leading an organized effort for the development of free trade agreements both within Latin America and across the Pacific. This is not surprising, as an analysis of Peru’s economic history will demonstrate. Despite its social complications, free trade has usually led to prosperity for Peru. With it currently being one of Latin America’s fastest growing economies, the loss of the TPP grants Peru the opportunity to see if their endurance and success will continue as they become more internationally integrated. If Peru succeeds with its plans of expanding free trade, which is analyzed in this paper, the country may serve as a model for countries just embarking to participate in the world of free trade economic policy.