Latin American Economic Outlook 2016

Towards a New Partnership with China

image of Latin American Economic Outlook 2016

The Latin American Economic Outlook 2016 is devoted to the evolving relationship between Latin America and China, as well as its prospects in the long term. China's transformation involves a gradual shift in its development strategy, including the rebalancing process from investment to consumption, the demographic transition, the structural transformation towards high value-added goods and services, and a "going-out" policy to approach other regions. This report lays the ground for discussing future trends in the relationship between China and Latin America, given these changing patterns. Based on the analysis of potential transmission channels of China’s new model to the region, which include issues on trade, finance and skills, the outlook aims to identify strategies and policy responses for Latin America to overcome development challenges. Latin America and China can complement each other further and build a mutually beneficial partnership for development.

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Costa Rica

OECD Development Centre

China is Costa Rica’s second trade partner with an export basket concentrated mainly in electronic microcircuits. In 2013, 3% of Costa Rica’s exports were destined to China and 10% of Costa Rica’s total imports came from China, making China Costa Rica’s second source of imports. More than 85% of Costa Rica’s value-added exports to China are concentrated in the mediumhigh and high-tech industries sector (mainly integrated circuits), with a smaller participation of services (14%). Likewise, the majority of value-added imports from China (53%) are from mediumhigh and high-tech industries.

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