In a move that draws Beijing closer to Latin America, China joined the Inter-American Development Bank and agreed to support $350 million in development projects. The Asian giant's hunger for Latin American commodities has made it the region's second largest trading partner.
AS/COA hosted its annual conference in Lima on September 4, featuring a remarks by President Alan García, Prime Minister Jorge del Castillo, and Foreign Affairs Minister José Antonio García Belaunde. Read a summary of the event.
A Cuban reform allows private farmers use of state-controlled land, marking a departure from past policies. Whether the law is far-reaching enough remains to be seen, given that the government retains land ownership.
As an opening speaker at the 2008 Latin American Cities Conference in São Paulo, AS/COA President Susan Segal highlighted Brazil's increasing importance worldwide, comparing it with Asian giants and emphasizing its role in promoting global trade talks.
Speakers at this week's World Economic Forum emphasized that Latin America is more prepared for a global economic slowdown than in the past. Experts say growing links with Asia, shown by recent summits, play a role.
Experts say China's appetite for commodities helps insulate Latin America against the sluggish U.S. economy. Others point to ways the region can take advantage of the windfall through reforms and infrastructure development.
Peru expects thousands of visitors in conjunction with hosting the 2008 Asia Pacific Economic Cooperation Summit. On February 11 and 12, AS/COA held programs in Washington, DC and New York to discuss Peru's economic growth and outlook, the economic opportunities for business in Peru, and the growing importance of APEC in the world.
