Globalization and the Economic Transformation of Panama
- Author Arthur Kraft
- Co-Author John Kraft
- DOI https://ww
- Country : USA
- Subject : Business and Economics
Keywords : globalization, supply chain, foreign direct investment, services.
Abstract
In 1990, the fall of the Berlin Wall, and the opening of the Communist Block, set off unprecedented growth in global trade. China, Vietnam, and the countries of eastern Europe became new markets and sources of production. Globalization of production and markets has become a reality. Prior to 1990 the Panama Canal was the primary route between the East and West coasts of the Americas. Globalization spurred trade between Asia the Americas as well as new routes between Europe and the West coast of the Americas. Globalization and the expansion of the canal drove significant investment in Panama. By 2023, Panama’s Gross Domestic Product (GDP) per capita exceed every country in Latin America (IMF 2025).
This growth was driven by investment and income generated by post 1990 globalization, and the transfer of the Panama Canal to Panama on January 1, 2000.
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