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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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Mexico

OECD Development Centre

China is Mexico’s fourth trading partner; although because of its strong trade ties within the North Atlantic Free Trade Agreement (NAFTA), the full trade potential with China has yet to be developed. In 2014, approximately 2% of Mexico’s exports were destined for China and 17% of Mexico’s total imports came from China. The majority of Mexican value-added exports to China are concentrated in medium-high and high-tech industries (40%) and mining (30%). The majority of value-added imports from China are from medium-high and high tech industries (67%). Notably, 74% of Mexico’s imports from China were intermediate inputs, while 11% were capital goods.

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