This document focuses on recent developments in trade between China and the Latin American and Caribbean region with respect to countries, sectors and goods, as well as Chinese foreign direct investment (FDI) in the region.
Attention is drawn to the important role China has played in the past few years as an importer of products from Latin America and the Caribbean, particularly in the context of the general slowdown of the region's exports during 2009. The analysis also confirms the essentially inter-industrial relationship between China and the region, which is based on China exporting manufactured goods and Latin America and the Caribbean exporting raw materials. This complicates not only potential business alliances between China and Latin America but also efforts to integrate the region's countries more effectively into Asia-Pacific production chains, which are organized along more intra-industrial lines.
China's demand for raw materials presents a tremendous opportunity for the region, particularly South American economies. This is a favourable trade cycle that will likely transcend many individual administrations. The challenge is, then, how the region may best tap this historic opportunity to make the investments in infrastructure, innovation and human resources needed to convert the gains derived from natural resources into human, physical and institutional capital that can underpin greater productivity and competitiveness. This will allow for greater export diversification through a deliberate, sustained effort to add knowledge and value to products. Another important challenge is to attract higher levels of Chinese FDI in Latin America and the Caribbean, especially investment directed towards improving infrastructure, promoting diversification of production and encouraging interregional business partnerships. This requires a regionally cohesive approach to China to overcome the limitations of any individual country's efforts.
For the past few years ECLAC has followed and supported activities carried out to strengthen the ties between Latin America and the Caribbean and Asia-Pacific, particularly in relation to China. ECLAC has participated in many business summits between China and the region, including the first China-Latin America and the Caribbean Think-Tank Forum, held in Beijing, and in the five ministerial meetings of the Latin American Pacific Basin Initiative. This publication is intended to lend further support to ongoing efforts to strengthen ties between the Latin American and Caribbean region and Asia-Pacific ?the most dynamic region in the world.
This publication is an updated and more detailed version of a document prepared by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) for the visit of the President of the People's Republic of China, Hu Jintao, to Brazil in May 2010. The present document has been prepared in anticipation of the visit of Vice-President Xi Jinping to ECLAC. It seeks to contribute to the overall analysis of the current and future significance of the increasing ties between the region and China.
 |
No comments:
Post a Comment
prueba