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Until the 1980s the United States was Latin America's major trade partner, and during the 1990s a second growth engine emerged with the European investment boom in the region. Now, at the dawn of the new century, the emergence of Asia as a key trade partner, and in particular China, has the potential to act as a third engine of growth.This publication considers the opportunities and challenges that Latin American economies will face as the influence of China in the world economy, and in Latin America's traditional markets, continues to grow.
Latin America is looking towards China and Asia -- and China and Asia are looking right back. This is a major shift: for the first time in its history, Latin America can benefit from not one but three major engines of world growth. Until the 1980s ...
In this book, China-Latin America relations experts Margaret Myers and Carol Wise examine the political and economic forces that have underpinned Chinese engagement in the region, as well as the ways in which these forces have shaped economic sectors and policy-making in Latin America. The contributors begin with a review of developments in cross-Pacific statecraft, including the role of private, state-level, sub-national, and extra-regional actors that have influenced China-Latin America engagement in recent years. Part two of the book examines the variety of Latin American development trajectories borne of China’s growing global presence. Contributors analyse the effects of Chinese engagement on specific economic sectors, clusters (the LAC emerging economies), and sub-regions (Central America, the Southern Cone of South America, and the Andean region). Individual case studies draw out these themes. This volume is a welcome addition to the growing body of literature on China-Latin America relations. It illuminates the complex interplay between economics and politics that has characterized China’s relations with the region as a second decade of enhanced economic engagement draws to a close. This volume is an indispensable read for students, scholars and policy makers wishing to gain new insights into the political economy of China-Latin America relations.
In the eyes of many, China's unprecedented economic rise has brought nothing but good news to the countries of Latin America and the Caribbean. Indeed, China's growing appetite for primary products, and the ability of Latin America to supply that demand, has played a role in restoring growth in Latin America, both in the run-up to the global financial crisis and in its aftermath. The dragon in the room that few are talking about is the fact that China is simultaneously out-competing Latin American manufacturers in world markets—so much so that it may threaten the ability of the region to generate long-term economic growth. One of the authors' key claims is that China is rapidly building the technological capabilities necessary for industrial development, whereas Latin American tech innovation and sophistication lags considerably. At a deeper level, the findings in this volume imply that China's road to globalization, one that emphasizes gradualism and coordinated macro-economic and industrial policies, is far superior to the "Washington Consensus" route taken by most Latin American nations, particularly Mexico.
This volume explores the policy dynamics, economic commitments and social impacts of the fast evolving Sino-LAC relations. China’s engagement with Latin America and the Caribbean has entered into an era of strategic transition. While China is committed to strengthening its economic and political ties with Latin America and the Caribbean, Latin America as a bloc is enthusiastically echoing China’s endeavor by diverting their focus toward the other side of the ocean. The transitional aspect of China-LAC ties is phenomenal, and is manifested not only in the accelerating momentum of trade, investment, and loan but also in the China-CELAC Forum mechanism that maps out an institutional framework for decades beyond. While Latin America is redefined as an emerging priority to the leadership in Beijing, what are the responses from Latin America and the United States? In this sense, experts from four continents provide local answers to this global question.
"The Emergence of China: Opportunities and Challenges for Latin America and the Caribbean provides a comprehensive overview of China's economic policy and performance over recent decades and contrasts them with the Latin American experience. What are the underlying factors behind China's competitive edge? What are the strategic implications of China's rise for growth and development in Latin America? These questions open new avenues for thinking about revitalizing development strategies in Latin America in the face of China's successful development and reduction of poverty. This insightful report is a must-read for analysts, policymakers, and development practitioners, not only in Latin America and the Caribbean, but wherever China's presence is being felt."--Jacket.
The last quarter of the twentieth century was a period of economic crises, increasing indebtedness as well as financial instability for Latin America and most other developing countries; in contrast, China showed amazingly high growth rates during this time and has since become the third largest economy in the world. Based on several case studies, this volume assesses how China's rise - one of the most important recent changes in the global economy - is affecting Latin America's national politics, political economy and regional and international relations. Several Latin American countries benefit from China's economic growth, and China's new role in international politics has been helpful to many leftist governments' efforts in Latin America to end the Washington Consensus. The contributors to this thought provoking volume examine these and the other causes, effects and prospects of Latin America's experiences with China's global expansion from a South - South perspective.