You will prepare and submit a term paper on Washington Consensus: Discussion of Why This Particular Approach was Readily Integrated into Latin America. Your paper should be a minimum of 4000 words in length. The international political economy is a complex study which seeks to understand the means by which economic decisions and agreements from various stakeholders are able to impact upon the way in which economic growth, stabilization, recession, depression, integration, and a litany of other factors come to take place within a given nation or between groups of stakeholders. Within the current globalized system, the importance of the international political economy, and the means by which decisions of economic importance are engaged, the overall level of relevance is maximized. As a function of this, the following analysis will engage the reader with an understanding of why the “Washington Consensus” came to be so widely accepted and agreed upon by a litany of different Latin American countries. Further, the unique drawbacks and tacit inabilities that the Washington Consensus will also be discussed with regards to the way in which stakeholders within this particular issue realize that it was in their best interest to accept the Washington consensus even with its tacit level of drawbacks. This is the hope of this particular analyst that the preceding information will be useful in categorizing and helping to understand the means by which stakeholders within the world can come to levels of agreement and cooperation based upon shared benefit and mutual understanding. Although the information that will be provided is specifically with regards to the international political economy and the methods and standards by which the integration of Latin American countries took place with the United States-based upon economic issues, a tacit level of understanding with respect to world affairs, international relations, and political theory will necessarily be engaged and hopefully understood.&nbsp.Firstly, before delving into the ultimate rationale behind why so many Latin American countries chose to integrate so fully and completely with Washington consensus, it must be understood that key macroeconomic factors throughout Latin America provoked and invoked a level of greater cooperation.