However, the 1970s saw the onset of economic fluctuation – the Echeverría’s administration left- wing approach led to the devaluation of the peso in 1976, a loss of self-sufficiency in food crops, a further peso devaluation in 1980 and the raising of tariffs to protect domestic producers from competition abroad (globalsecurity.org, n.d.). [...] The constitutive treaty was signed in 2012 in Chile, defining a country’s commitment to the rule of law, democracy and constitutional order, the separation of the powers of state and the protection, promotion and respect for human rights and fundamental freedoms as essential to participation in the Alliance (Andres Castaño Peña, 2016). [...] Additionally, some public commentators have argued the true purpose of the Alliance is to “shackle the Pacific countries as exporters of natural goods, prevent the consolidation of regional integration and isolate Brazil, Argentina and Venezuela, and form an economic leg of the Trans-Pacific Partnership through which the United States may contain China.” (Zibechi, 2013). [...] Firstly, one of the explicit principles of the Pacific Alliance is the aim to expand its sphere of influence to the Indo-Pacific. [...] Australia and the Pacific Alliance Australia’s economic and political relationships with both the Pacific Alliance as a bloc and with each member state is remarkable when considering the state of relations in the late 20th century.
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- Australia
