Political Risk Latin America Blog @PolRiskLatam

Changing Asian and Latin American Relations

Posted in News and Articles, Political Risk by politicalrisklatam on September 8, 2010

by Javier Santiso for The Globalist, September 8th, 2010.

China is fast displacing Japan as Asia’s main partner in Latin America — and the Middle Kingdom’s success in Central and South America is leading to increased investment in the region on the part of other Asian countries. As Javier Santiso writes, this flirtation between the two continents merely reflects once again how global economic relations are being reconfigured.

Relations between Latin America and Asia are changing dramatically. For decades, Japan dominated as the main commercial and financial partner in the region. Now, China is taking over. It is a further reflection of the country’s new status as the second world economic power, behind the United States.

Between 1990 and 2008, trade relations between Latin America and Japan continued to expand, but the pace was much less sustained than with China. 

In 2008, trade between Latin America and Japan totaled some $60 billion (about $30 billion for imports and exports each), while trade with China soared to a total of $140 billion (about $70 billion each for imports and exports).The turning point was 2002 when China, for the first time, overtook Japan as Asia’s main trading partner in Latin America. (continue reading… )

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