Thursday, December 2, 2010

More on China and Latin America

This is a well-thought article about the promise and the threat that China poses to Latin America. Basically China is buying lots of primary materials from Latin America, which is good for us in the short run, but we don't want to keep basing our economies on resource extraction. At the same time, it seems Latin America is losing market share globally to China in export of manufactured goods. The article holds up Brazil as one of the only Latin nations doing the right thing vis a vis China and the world. Like China, Brazil is investing in innovation, research, and pushing of exports in foreign markets. They even exact favorable conditions from Chinese investors in Brazil. Would that we in Colombia started thinking along the same lines!

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