Latam-Asia trade expanding at an annual rateo f 20.5%, reaching 442bn in2011

Monday, May 7th 2012 - 05:43 UTC

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Economist Mauricio Moreira Mesquita from the IDB

Trade between Asia and Latin America reached 442 billion dollars in 2011 growing at an annual rate of 20.5% in the last twelve years according to a joint report from the Inter American Development Bank and the Asian Development Bank.

Asia currently represents 21% of Latin America and the Caribbean international trade rapidly cutting distances with the 34% of the US.

“Defining the relation between Asia and Latin America and the Caribbean” as the report is called points out that the region’s share of Asia international trade during the last decade has doubled but remains below 4.4%

Nevertheless trade has expanded sustainedly since 2000 propped by strong demand from Asia for minerals and food, abundant in Latin America and the Caribbean, as well as by the massive import of Asian manufactured goods, particularly in the south of the continent.

But in spite of the numbers’ success, the dynamics of bilateral trade has caused certain apprehension in Latam because of the risks of an excessive dependence of exports on commodities.

“But given the severe lack of resources in Asia as well as its continuous competitive edge, the report suggests that the dynamics of commodities for manufactured goods will continue for decades” argues economist Mauricio Moreira Mesquita, one of the authors behind the reports.

Nevertheless “there is room for a scenario where Latam and the Caribbean can add sophistication to their exports to Asia, with advantages in such areas such biotechnology, sustainable mining and clean energies”.

The report adds that since 2004, the two regions have implemented 18 free trade accords and an additional four have been signed and another eight are under discussions.

Finally inter-regional investments keep growing which helps countries explore new opportunities and tone down commercial tensions. Investments have kept parallel to the expansion of trade particularly in manufacturing.

And investments in that sector are focused mainly in China, Korea and Japan, on the one side and in Brazil, Argentina and Mexico on the other side. The investment inflow from Latam to Asia is described as minimal.

Categories: Economy, International, Latin America.

Tags: Asia, IDB, Latam, Mauricio Moreira.

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Guzz
Come on Asia, get those numbers to 80%, so we can get rid of Europe and USA, we really, really, really don't want to trade with them :)
May 07th, 2012 - 08:42 pm 0
Anti-Fascist
Argentina is a product of colonialism, conquered by the sword, most of the natives killed and infected by disease, their land taken from them and worked by imported African slaves, oversean by imported European colonials. The African's who made up 50% of the population would themselves completely disapear from Argentina between 1850-1900 in what could have been a chilling fore runner to the disareances of the Dirty War in the 1970's when an estimated 30,000 Argentines were raped, tortured and murdered, many more were held illegally in detention camps and tortured. The true figure for the dead could be as high as 100,000, no one knows because there is little official documentation and most bodies were dumped in the sea.

Argentina took land from its neighbours in numberous wars , civil wars and land grabs - Paraguay, Uraguay, Chile. Today Argentina despite the changed political landscape is still a nation characterised by uber nationalism. The claim to the Falklands was surendered in 1850 but reserected in 1941 by a fascist junta, which inc Peron, they thought their friends the Nazi were going to win the war, the Falklands looked easy picking.

In 1982 Argentina was under the latest succession of a series of fascism military junta's. Their hold on power was looking precarious, in deperation they sort a war, Chile looked like a good victim, they already claimed lots of land and were ignoring the international tribunals that had ruled in Chile's favor. But then they changed their mind and invaded the Falklands. Today the war is romanticized by a nation ruled by a kind of cross between a Neo-Nazi uber nationalist and a Charvesta Revolutionary uber Marxist. The only thing missing is the land reform. Maybe that's for later? But as few natives remain, maybe they'll just ignore their rights... God knows they always have. An entire culture replaced by a European one. Entire languages destroyed.

Timmerman should take time to read about his country's history.
May 08th, 2012 - 02:42 am 0

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