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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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Panama

OECD Development Centre

In recent years, China has become one of Panama’s main trading partners, with the export basket mainly concentrated in commodity products. In 2014, 9% of Panama’s exports were destined for China, making it its third export destination. Similarly, China became Panama’s fourth import source with 8% of Panama’s total imports coming from the Asian economy. Panama’s exports are mainly concentrated in agricultural and mining products, especially copper waste (42% of total exports to China), flours, meals and pellets (24%) and aluminium waste (14%).

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