{"id":50003491,"date":"2015-09-17T17:17:01","date_gmt":"2015-09-17T16:17:01","guid":{"rendered":"https:\/\/stage.dialogochino.net\/?p=3491"},"modified":"2022-12-14T10:39:23","modified_gmt":"2022-12-14T10:39:23","slug":"3491-china-and-latin-america-a-new-phase-of-engagement","status":"publish","type":"post","link":"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/","title":{"rendered":"China and Latin America: a new phase of engagement?"},"content":{"rendered":"

Until recently, China\u2019s investments in Latin America had focused solely on the region\u2019s abundant natural resources such as soya, copper and oil. But now the world\u2019s most populous nation wants to include creative industries, technology, and deeper cultural ties in its plans.<\/p>\n

Through what Li termed as the \u201cfour pillars<\/a>\u201d of the China-Latin America relationship, which include increasing and deepening cultural exchanges and investing in infrastructure and technology, China aims to \u201cupgrade\u201d economic activity between the regions. The principal mechanism for this being China-CELAC<\/a>, which this week held its inaugural science, technology and innovation<\/a> forum in Quito, Ecuador, in a bid to redress the partnership\u2019s current knowledge transfer deficit.<\/p>\n

Ren\u00e9 Ramirez, Ecuador’s Minister for Higher Education, Science and Technology, said the two-day forum held at the headquarters of the Union of South American Nations<\/a> (UNASUR) indicated the start of a “great relationship”.<\/p>\n

Since premier Li Keqiang\u2019s visit<\/a> to Brazil, Colombia, Peru and Chile earlier this year, China has identified co-operation in higher value-added industries as central to its bid to contribute to the development of a region where social and environmental conflicts over natural resources have strained relations.<\/p>\n

Green groups from Argentina have\u00a0told Di\u00e1logo Chino<\/a> that the existing model based on China importing raw materials from Latin America and exporting manufactured goods has been a cause of conflict. But Beijing hopes that an emphasis on diversifying engagement will usher in a \u201cnew era\u201d different from that characterised by trade imbalances and tensions\u00a0with Latin American civil society<\/a>.<\/p>\n

Dependency on Chinese demand for primary resources has made Latin America\u2019s economies especially sensitive to the recent devaluation of the yuan. Prices of copper and oil dropped to six-year lows<\/a> on \u201cBlack Monday\u201d, adversely affecting the Chilean, Colombian and Mexican economies in particular.<\/p>\n

Before and after China-CELAC <\/strong><\/p>\n

\u201cThe relationship has taken a new phase indeed,\u201d says Kevin Gallagher of Boston University\u2019s Global Economic Governance Initiative<\/a>, describing the first China-CELAC forum in January this year as \u201cvery significant\u201d in allowing both parties to discuss broader hemispheric issues beyond bilateral trade relationships.<\/p>\n

The five year China-CELAC cooperation plan<\/a> which resulted from the first forum pledged to promote the industrialisation of CELAC countries to produce value-added goods.<\/p>\n

And Gallagher also points out that the plan also contains several provisions such as collective action to combat climate change and provide aid to landlocked and poorer nations.<\/p>\n

A \u201cwin-win\u201d situation? <\/strong><\/p>\n

As China enhances its global reach through initiatives such as the new silk road<\/a>, it is simultaneously attempting to address the perception that its sole intention is to funnel resources out of regions like Latin America. Premier Li emphasised the importance of improved cultural understanding as vehicle to \u201cstrengthen practical cooperation<\/a>\u201d whilst in Colombia in May, suggesting that it could help both partners to achieve \u201cwin-win\u201d outcomes.<\/p>\n

And Xi Jinping and Li Keqiang\u2019s respective 1+3+6 and 3×3 frameworks (policy initiatives that identify strategic sectors for development in partner regions) likewise want to achieve \u201cambitious\u201d economic and political goals, says Margaret Myers, director of the China-Latin America program<\/a> at the Inter-American Dialogue.<\/p>\n

\u201cIn response to years of criticism for a rather singular focus on commodities, they signal China\u2019s commitment to increasingly diversified economic engagement in Latin America by indicating a range of sectors in which Chinese companies will invest in the coming years,\u201d Myers says.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

China aims to upgrade and diversify the region\u2019s economy but environment is a crucial challenge<\/p>\n","protected":false},"author":40000225,"featured_media":50003493,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[758],"tags":[544,556,600],"hashtags":[],"country":[20000110],"class_list":["post-50003491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-finance","tag-infrastructure","tag-trade","country-china"],"acf":[],"yoast_head":"\nChina and Latin America: a new phase of engagement? | Dialogue Earth<\/title>\n<meta name=\"description\" content=\"China aims to upgrade and diversify the region\u2019s economy but environment is a crucial challenge\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China and Latin America: a new phase of engagement?\" \/>\n<meta property=\"og:description\" content=\"China aims to upgrade and diversify the region\u2019s economy but environment is a crucial challenge\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/\" \/>\n<meta property=\"og:site_name\" content=\"Dialogue Earth\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-17T16:17:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-14T10:39:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dialogue.earth\/content\/uploads\/2015\/09\/21479517121_5900a222df_z.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"427\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hands Up Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/\"},\"author\":{\"name\":\"Hands Up Admin\",\"@id\":\"https:\/\/dialogue.earth\/en\/#\/schema\/person\/e6f5ec9306faf26417be0d14efe096bc\"},\"headline\":\"China and Latin America: a new phase of engagement?\",\"datePublished\":\"2015-09-17T16:17:01+00:00\",\"dateModified\":\"2022-12-14T10:39:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/\"},\"wordCount\":567,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/dialogue.earth\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/dialogue.earth\/content\/uploads\/2015\/09\/21479517121_5900a222df_z.jpg\",\"keywords\":[\"Finance\",\"Infrastructure\",\"Trade\"],\"articleSection\":[\"Business\"],\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/\",\"url\":\"https:\/\/dialogue.earth\/en\/business\/3491-china-and-latin-america-a-new-phase-of-engagement\/\",\"name\":\"China and Latin America: a new phase of engagement? 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