In 2008，economic growth rate of Latin America and the Caribbean averaged 4.6%. Affected by the global financial crisis and changes in external economic environment，the economic trend of Latin America and the Caribbean was characterized by the following features. First，the global financial crisis has modified the cycle of economic growth of the region；economies were entering a new cycle of adjustment. Therefore，the first and second half of the year were marked by distinct characteristics. Contracting stock market，turbulent exchange market，depreciated national currencies，fleeing capital and shrinking production featured the second of the year，the fourth quarter，in particular. Second，different trends of national economic development in the region were sub-regionally concentrated. Third，despite of the continuous growing exports，favorable external conditions for exports of the region underwent changes to reduce trade surplus and exacerbate the pressure on the balance of payments. Fourth，segmentation emerged in mayor productive sectors，production and sales of automobiles started to decline. Fifth，Sino-Latin American trade hit a new historic record and new breakthroughs were made in establishing institutional guarantee for Sino-Latin American trade and economic cooperation. Generally speaking，in face of the global financial crisis countries of the region accelerated steps in adjusting economic policies targeted at keeping stability and promoting growth. Infrastructure construction and energy development were chosen as investment priorities. Countries were different in policy orientation for economic adjustment. In short，all economies of the region were faced with new challenges and in consideration of a number of uncertainties，average annual growth rate of the region in 2009 is estimated at around 1.8% or even below.