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The Changing Nature of Asian-Latin American Economic Relations

image of The Changing Nature of Asian-Latin American Economic Relations

This book aims to document the growing investment and trade relations between Latin America and Asia, as well as some of their imbalances. It also provides several examples on how to upgrade trans-Pacific economic relations. It is offered to the Asian and Latin American policymaking, academic and business communities, as a contributioon to bridging the gaps in our knowledge of economic relations between the two regions.

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Introduction

Over the past decade, Asia and Latin America have become the new drivers of world growth. As a indication of their dynamism, their participation in the world economy, global trade and investment has increased markedly over the past ten years. Together, Asia and Latin America were responsible for roughly one third of global economic activity in 2011, which is more than the European Union or the United States, which contributed 25% and around 8%, respectively. Their cumulative share in world trade is about 30%, with Latin America contributing 5% and Asia the remainder. However, their participation in global FDI flows is much smaller: Asia accounts for 11% and Latin America for around 7%. Nevertheless, all these shares were substantially lower one decade ago.

English

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