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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OECD Development Centre

China is Uruguay’s second trading partner. Exports to China represented 17% of total exports (including soy exports from Nueva Palmira Free Trade Zone) in 2014, most of which were concentrated in commodity products. Soy represented 52% of total exports to China, followed by meat (18%), pulp mill (17%), wool and fabrics (6%), products from meat (3%), leather (1%) and wood (1%). Imports from China were 22% of the Uruguayan total imports in 2014, concentrated in technological products, such as mobile phones and computers.

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