China's and India's Challenge to Latin America Opportunity or Threat?

by Lederman, Daniel; Olarreaga, Marcelo; Perry, Guillermo E.

• ISBN13: 9780821373088
• ISBN10: 0821373080
• Format: Paperback
• Copyright: 2008-10-31
• Publisher: World Bank Publications

Summary

The economic successes of China and India are viewed with admiration but also with concern because of the effects that the growth of these Asian economies may have on the Latin American and Caribbean (LAC) region. The evidence in 'China's and India's Challenge to Latin America' indicates that certain manufacturing and service industries in some countries have been negatively affected by Chinese and Indian competition in third markets and that LAC imports from China and India have been associated with modest unemployment and adjustment costs in manufacturing industries. The book also provides substantial evidence of positive aggregate effects for LAC economies associated with China's and India's greater presence in world exports, financial flows, and innovation. Chinese and Indian growth is creating new production possibilities for LAC economies, particularly in sectors that rely on natural resources and scientific knowledge.

Table of Contents

Foreword	p. xxi
Acknowledgments	p. xxv
Abbreviations	p. xxvii
Introduction
Latin America's Response to China and India: Overview of Research Findings and Policy Implications	p. 3
The Growth of China and India Is Not a Zero-Sum Game for Latin America and the Caribbean: Short- and Long-Term Effects
Trade, Specialization, and Cycle Synchronization: Explaining Output Comovement between Latin America, China, and India	p. 39
The Growth of China and India in World Trade: Opportunity or Threat for Latin America and the Caribbean?	p. 101
Foreign Direct Investment in Latin America during the Emergence of China and India: Stylized Facts	p. 121
The Negative Impact of Chinese and Indian Competition in Some Industries and Some Regions
China and the Recent Evolution of Latin America's Manufacturing Exports	p. 145
The Effect of China's Exports on Latin American Trade with the World	p. 179
Effects on Services Trade with the United States	p. 217
Trade Liberalization and Export Variety: A Comparison of Mexico and China	p. 245
The Impact of Trade with China and India on Argentina's Manufacturing Employment	p. 265
Factor Adjustment and Imports from China and India: Evidence from Uruguayan Manufacturing	p. 291
Index	p. 315
Box
Public Opinion in LAC about China's Growth	p. 4
Figures
LAC, China, and India: Output Comovement (10-Year-Rolling Correlations), 1981-2003	p. 9
Explaining the Rising Output Correlation between LAC and China, 1995-2004 versus 1985-94	p. 10
LAC's Comparative Advantage in Natural-Resource-Intensive Products, 1990	p. 11
China and India: Impact on Commodity Prices, December 2001-December 2005	p. 12
Share of China in World Markets: Selected Commodities, 1990 and 2004	p. 13
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