Vol. 6 Num. 1 - GCG: Revista de GlobalizaciÃ³n, Competitividad y ...

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Zhu HongboTable 6: Investment of sector for China to Latin America 29(Investment by million US dollars; employment by person)129CountryArgentinaBrazilMexicoChilePeruColumbiaMain Sectors ofinvestmentAutomobile, wholesaleand retailAutomobile, iron,mine, office equipment,oil and gas,paper, wholesaleAutomobile, electronics,office equipment,tele-communicationFinancial service,iron, Manufactureiron, Manufacture,whole sale and retailAutomobile, Timber,tele-communication2003-2008 TotalinvestmentInvestmentin 20092003-2008 TotalemploymentEmploymentin 2009519 0 2142 08,548 5,137 27,695 7,3521,079 48 5,842 17537 0 81 04,555 279 6,391 304242 4 1,231 20Bolivia Metal, wholesale 2 0 13 0VenezuelaCubaoffice equipment, oil,Tele-communication,Information service,financial serviceHome electronics,Manufacture715 31 1,241 440 52 0 694All three issues – balances of trade, trade structure, and investment –had big impacts onbilateral relations between China and Latin America.First, more protectionism for domestic markets was emerging in Latin American countries.Some countries, such as Mexico, Brazil, and Argentina, wanted to protect their labor-intensiveindustries from Chinese competition in order to secure jobs and get political supportfrom both industry and laborers. Brazil, Mexico, and others were adopting harder and harderpolicies against Chinese goods, such as higher tariffs, anti-dumping measures, and otherlimitations, Conflicts thus increased in recent years.Second, these imbalances gave rise to difficulties in financial and monetary cooperation. Inorder to balance these imbalances, Brazil and other countries began to doubt the policy ofthe Chinese exchange rate and want to increase investments from China in high-tech industries.Argentina and others cooperated with China in local currency agreements, which willimpact future international and financial systems.29. División de Desarrollo Productivo y Empresarial de la CEPAL.GCG GEORGETOWN UNIVERSITY - UNIVERSIA ENERO-ABRIL 2012 VOL. 6 NUM. 1 ISSN: 1988-7116pp: 115-135
Building the New Silk Road across the Pacific. Economic and trade relations between Chinaand Latin America after the Financial Crisis in 2008130Third, these kinds of trade issues had become politically thorny problems for some LatinAmerican politicians. The kind of policy that should be applied to China became both aninternational and domestic issue, and politicians had to find a balance between the differentpolitical groups.Furthermore, Latin America had to meet the challenges of international cooperation. Traditionally,Latin America was connected more with Europe and North America politically,economically and culturally. But now, influence from the East and Asia-Pacific has becomemore powerful than ever, especially in the economic dimension. How to deal with it was abig challenge all over the continent.5. The Future of relations between China and Latin America: Strategicpartnership?From 2000 on, trade between China and Latin America witnessed the most rapid developmentfor 10 years in the history. Even during the financial crisis period, it still went on to growwith a faster pace than other regions. There were two reasons for this development, that is,China’s booming economy and the complementary structure of trade between China andLatin America. It is time to ask, what kind of future partnership will there be?In November 2008, the Chinese government released the white book Chinese Policy towardsLatin America and Caribbean. In this book, the Chinese government proposed that cooperationwith developing countries is the cornerstone of Chinese diplomacy, and the Chinesegovernment will develop an all-round partnership of equality, benefiting each other and developingtogether with a strategic perspective 30 .President Hu Jintao also stressed during his visit to Latin America in 2008 that economicdevelopment is the most important challenge for both China and Latin America, so theyshould deepen the business and trade cooperation, focus on better trade structure, find abalance between trade volume and quality, promote investment on both sides, and makebetter policy to support cooperation 31 .In May 2010, a report was given by CEPAL, and it was proposed that it is the right time tomake progress in the relations between China, and Latin America and the Caribbean region.The proposal called for higher quality relations and strategic partnerships. First, Latin Americashould diversify its exports with more high-tech manufactured goods, rather than justenergy, natural resources, and foods. Second, both countries should promote investments,especially for China taking advantage of its huge foreign currency reserve to invest in the30. Xinhua Net, Reports on November 5, 2008, (available only in mandarin) http://news.xinhuanet.com/newscenter/2008-11/05/content_10308177.htm31. Hu Jintao, Building together all-round cooperation partnership between China and Latin America in the new era, Speech in Congress of Peru, Lima,Peru, November 20, 2008 (only available in mandarin) http://www.fmprc.gov.cn/chn/pds/gjhdq/gj/nmz/1206_7/1209/GCG GEORGETOWN UNIVERSITY - UNIVERSIA ENERO-ABRIL 2012 VOL. 6 NUM. 1 ISSN: 1988-7116pp: 115-135
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CARTA DEL EDITOR IN CHIEFEditor in
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StaffDe la Torre, José, Dean, Chap
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Staff2. MULTINACIONALES, INVERSIÓN
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SELECCIÓN PROCEDURE PROCEDIMENTOIN
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Instrucciones para Autores y Proced
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INDEXACIÓN INDEXING INDEXAÇÃOInd
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Economic Relationships between Lati
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Miguel A. MontoyaThe rest of the pa
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561. IntroductionClusters and indus
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Page 138 and 139: Edy WongTable One: Compositions of
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Page 146 and 147: Edy Wongdemand-side factors in the
Page 148 and 149: Edy Wongterms of quality, reliabili
Page 150 and 151: Edy Wongindustry. Second, value cha
Page 152 and 153: Edy Wongconsumption of Western luxu
Page 154: Edy WongReferences155Child, J.; Rod
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Vol. 6 Num. 1 - GCG: Revista de GlobalizaciÃ³n, Competitividad y ...

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