China'S Investment In Latin America Continues To Heat Up, And Trade Hot Spots Deserve Attention
visit Latin America is of great significance
For President Xi Jinping's visit to Latin America this time, Wu Baiyi, Deputy Director of the Latin American Institute of the Chinese Academy of Social Sciences, believes that the most important significance is that China and Latin America have jointly announced the establishment of an overall cooperation mechanism such as the China Latin America Forum, which will include the establishment of a series of supporting dialogue, policy coordination and communication mechanisms between the two sides. China and other regions in the world, such as Africa, ASEAN, the Middle East and other regions, have established similar cooperation mechanisms. The establishment of the China Latin America Forum marks the beginning of the overall cooperation between China and Latin America. Since then, China and Latin America have entered a situation of overall planning and layout cooperation.
It can be seen that today, the relationship between China and Latin America is becoming one of the most important relationships in the world. In recent years, the level of economic and trade cooperation between China and Latin America has also continued to rise rapidly. The "troika" of trade, investment and finance has been working at the same time, and the prospect of China Latin America economic and trade is promising.
Since 2000, China Latin America economic and trade has achieved an amazing "triple jump" - breaking $10 billion in 2000, $100 billion in 2007 and $200 billion in 2012. For more than 10 years, as a powerful engine of world economic growth, China has benefited Latin America a lot; China has also made progress in cooperation with Latin America. Last year, the bilateral trade volume between China and Latin America reached 261.6 billion US dollars. In the next 10 years, China Latin America economic and trade will also grow rapidly towards the goal of doubling, and China's investment stock in Latin America is expected to more than triple.
Middle pull Economic and trade complementarity
Latin America is one of the most concentrated areas of developing countries and a rising international force. In the context of the current acceleration of economic globalization and regional economic integration, both China and Latin America have huge needs for development. President Xi Jinping's visit to the four Latin American countries is of great significance for comprehensively improving the level and level of China Latin America cooperation and achieving win-win cooperation. During the visit, China Arab States and China Venezuela decided to upgrade their bilateral relations to a comprehensive strategic partnership. China and Pakistan agreed to further deepen the comprehensive strategic partnership. China and Cuba are determined to be good friends, comrades and brothers on the road of building socialism. In the field of economy and trade, China and the four countries have signed more than 150 contracts and framework agreements, involving about 70 billion US dollars. For example, among the agreements signed between China and Latin American countries, there are many projects involving financial and energy cooperation, including the $1 billion drilling platform leasing project, the hydropower and nuclear power projects between China and Argentina, and the $4 billion oil for loan project between China and Venezuela. The development of these complementary projects not only represents the direction of future cooperation, but also will further promote bilateral economic and trade cooperation and development.
Experts said that the reason why China and the four Latin American countries "hit it off" lies in the complementarity of economic and trade exchanges over the years. It is understood that China mainly imports agricultural products (including soybeans and vegetable oils) and natural resources (including crude oil and copper ore) from Latin America. Latin America needs to import computer and communication technology products, textiles, clothing, air conditioners and other goods from China. At the same time, China and Latin America complement each other in infrastructure construction. Latin American countries need investment in infrastructure construction, while China needs to export its accumulated experience and technology.
Last year, China Pakistan trade volume exceeded 90.2 billion US dollars. Since 2009, China has become Brazil's largest trading partner. China maintains Brazil's position as the largest trading partner, and Brazil has become China's ninth largest trading partner. The bilateral trade volume between China and Argentina reached 14.8 billion US dollars in 2013, more than 2400 times that at the beginning of the establishment of diplomatic relations. China has become Argentina's second largest trading partner and main source of investment, and Argentina has become China's fifth largest trading partner in Latin America. The bilateral trade volume between China and Venezuela increased from only 1.4 million dollars at the beginning of the establishment of diplomatic relations to 19.2 billion dollars. China has become Venezuela's second largest trading partner, and Venezuela has become China's fourth largest trading partner in Latin America, an important energy partner, and a project contracting market.
Of course, not only the four Latin American countries, but also many other Latin American countries have shown their willingness to cooperate with China. China, Brazil and Peru have decided to cooperate and discuss the construction of the two ocean railway connecting the Pacific Ocean and the Atlantic Ocean. Recently, the ambassador of the Republic of Suriname to China Loyd Pinas also said, "Now is the best time for Suriname and China to develop their relations in history, because everyone wants to establish a cooperative relationship. Anyone who has ever been to Suriname will understand that the population here is very diverse and the culture is very inclusive. We will further develop the relationship between Suriname and China and hope to establish cooperation with more Chinese companies. " It is reported that Suriname is rich in mineral resources and fresh water resources, and is close to America and Europe. It is also a sea channel from South Africa to Canada, with a very important strategic position. For example, many telecom companies can rely on Suriname as an important platform for the development of the northern hemisphere. Grimmer Hovlad, President of the Central Bank of Suriname, said: "In the past 25 years, Suriname has received great support from the Chinese government, including infrastructure construction. Many Chinese companies have made direct investment in Suriname, and hope to have more cooperation with Chinese enterprises in more aspects in the future, including the financial industry."
future The way
Economically, Latin America, a region with 589 million consumers, will continue to provide a huge market for China's commodity exports, and China will also provide technology and funds for its infrastructure construction. However, as a region where emerging markets and developing countries are concentrated in the world, how to deepen cooperation with China in the future deserves more attention.
On July 25, Japanese Prime Minister Shinzo Abe also began his visit to five Latin American countries. Although people from all walks of life are not optimistic about Abe's visit, on the other hand, we should also see how to implement and consolidate the cooperation achievements reached by leaders and further strengthen various long-term cooperation between China and Latin American countries after the short-term effect caused by the leaders' visit has receded.
For example, in recent years, Argentina has initiated many anti-dumping and countervailing measures against China, which need to be reduced by strengthening bilateral investment. In addition, at present, the main areas of cooperation between China and Latin America are still focused on resources and infrastructure construction, and many private capital forces have not been fully utilized. These forces need to be further mobilized to further promote the economic development of China and Latin America.
Guo Cunhai, deputy director of the Social Culture Office of the Latin American Institute of the Chinese Academy of Social Sciences, said that at present, the investment model of China Latin America economic and trade relations, which focuses on investment in primary products, could last for several years, but in the long run, transformation and upgrading are the only way. In the future, new growth points of bilateral cooperation may focus on some industries with higher added value, such as finance, science and technology.
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