China may become Latin America’s largest trading partner in five years

Foreign direct investment between Asia Pacific and Latin America grew by 8% in the first half of 2012
China could become the largest trading partner of Latin America in 2017, as confirmed by the Economic Commission for Latin America (ECLA). Economists say that the EU financial problems open the way to China in Latin America. “From the calculations are China increasingly becomes a more important partner for Latin America. In fact many countries today and is the second largest trading partner, for others it is the third and are in these prospects to replace in all regions to the EU as its second partner. In the first half of this year and moved, for example, U.S. as the first partner of Brazil, ie is advancing ever more, “he said in his statements to RT economist Nestor Restivo. The Asian giant is already the largest market in Brazil, Peru and Chile. However, trade with China is still very diversified and is concentrated in a few commodities. Read Article