Part 4/10:
One of Mercosur's major shortcomings is its lack of a common currency, which has led to trade imbalances and currency manipulations among member nations. Coupled with high tariffs within the bloc, the trading environment remained convoluted and bureaucratic, stifling the potential for effective exchange of goods. Instead of evolving toward free trade, Mercosur evolved into a political alliance, often obstructed by diplomatic tensions.