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Foreign economy

Citizens in an interconnected and polycentric world :

Global trends 2030
Publisher: 
EUISS
City: 
Paris
Volume, number, page: 
174 p.
Category: 
Abstract: 
The report identifies several global trends that will shape the world in 2030. They include: •• The empowerment of the individual, which may contribute to a growing sense of belonging to a single human community; •• Greater stress on sustainable development against a backdrop of greater resource scarcity and persistent poverty, compounded by the consequences of climate change; •• The emergence of a more polycentric world characterised by a shift of power away from states, and growing governance gaps as the mechanisms for inter-state relations fail to respond adequately to global public demands

European and Chinese trade competition in third markets :

the case of Latin America
Publisher: 
BRUEGEL
City: 
Brussels
Volume, number, page: 
n.6, pp.1-15.
Category: 
Considered Countries: 
Abstract: 
China’s increasingly important role in the global economy has transformed the nature of global competition and reshaped international trade.
Meanwhile, the European Union has long been the most important power in global trade and continues to run a very large trade surplus. We
address whether China is an increasingly relevant competitor for Europe in third markets, and in particular in Latin America. More specifi cally, we
empirically estimate the elasticity of substitution between European exports and Chinese exports to Latin American economies (ie how their exports to Latin America respond to the changes in relative exporting prices).

Euro and the financial relations between Latin America and Europe :

medium- and long-term implications
City: 
Santiago
Volume, number, page: 
71 p.
Category: 
Abstract: 
The internationalisation of the euro is in its initial stages and it is still difficult to draw any definitive conclusions regarding its scope and its implications for Latin America. Indeed, the emergence of an internationally used currency is slow and subject to inertial forces. Nonetheless, several fairly robust conclusions can be inferred from the results of the document. The most plausible medium- to long-term international scenario seems to be development of an asymmetrical duopoly between the euro and the dollar. In a context of scant international monetary cooperation, this scenario could lead to high volatility between the two main international currencies, which will be a powerful destabilising factor for third countries. In terms of official international reserves, the growing financial use of the single European currency and the development of Euroland capital markets should lead to greater diversification in favour of the euro in the medium and long term. Together with other factors, the growth of the euro bond market will tend to increase the pressure to widen and deepen the euro financial market and make it more liquid. This should favour the development of better conditions for both European and third-country participants. The geographic diversification strategy implemented by the European banks, and the boom in European foreign direct investment could also favour greater international use of the euro. For Latin America, the sustained increase in the share of euro-denominated international bond issues, chiefly by the public sector, makes it necessary to consider policies for managing the currency composition of the external debt. On the other hand, the medium- to long-term consequences of an increasingly bipolar but asymmetrical international monetary system will have to be included in the Latin America national exchange rate policies, enhancing the possibility of adopting anchor baskets.

China, Latin America, the Caribbean & the European Union

a triangular relationship?
China, Latin America, the Caribbean & the European Union: a triangular relationship?
Publisher: 
EU-LAC Foundation
City: 
Hamburg
Volume, number, page: 
74 p.
Abstract: 
These are the Conference Proceedings of the Workshop-Seminar “China, Latin America and the Caribbean and the European Union – A triangular relationship?”
Based on China’s emergence as a new economic and political power and an active member of the international community, as well as the increasingly complex political and economic relationships this country has established both towards the European Union and Latin America and the Caribbean, the conveners of the Workshop-Seminar invited distinguished experts, scholars and representatives from international institutions to discuss the current political and economic dynamics between the three parties, and their implications. By identifying potential scenarios, opportunities, risks and challenges, the participants provided first-hand insights and assessed, in exchange with the audience, whether there was room for an enhanced political and economic collaboration between the three regions.

An analysis of Central America and Eastern Europe Revealed Comparative Advantages

Publisher: 
IEECA Society
City: 
Minneapolis
Volume, number, page: 
1:1, pp.1-12
Abstract: 
The present study applies the revealed comparative advantages through the Balassa Index to determine the comparative advantages, disadvantages, and intra-product commerce tendencies between Central America and Eastern Europe with the purpose of determining the possibility of a free trade agreement for Central America. The approach of the study is through the connection between the European Economic Union and the Central American Common market, which shares a common background and relates them to research of Bela Balassa (1965) to determine how commerce between Central America and Eastern Europe has performed and the possibilities of growth that this commerce has through a free trade agreement. The study demonstrates the importance of analyzing competitive advantages. This paper presents the difference in competitive advantage between Eastern Europe and Central American establishing the benefits when negotiating a free trade agreement between both economic blocks. Therefore, analyzing and negotiating between products of competitive advantages may lead to a more sustainable economic growth.

Latin American Role in International Geopolitics

Publisher: 
Peoples’ Friendship University of Russia
City: 
Moscow
Volume, number, page: 
15:4, pp.20-28
Considered Countries: 
Abstract: 
The article shows that over the past decade and a half there have been significant changes in the international situation in Latin America, which affected all the main areas of external relations in the region. The interaction between the Latin American countries moved forward, which was reflected in the formation and development of new structures, such as UNASUR, ALBA, SELAC, and the Pacific Alliance. China has dramatically expanded its presence in the region, which was manifested in the growth of trade and Chinese investment, and the transition from the level of bilateral cooperation to multilateral format. The cooperation between Latin America and Russia has risen on a higher level, which was manifested in the expansion of trade and economic ties and collaboration of certain Latin American integration groupings with the EAEC. The new moments characterize relations with the US, which is clearly evident in US-Cuban relations. Latin American countries have stepped up dialogue with the European Union. All these factors combine to expand the range of external relations of Latin American and Caribbean countries and prove the changing role of Latin America in the system of global relations.

EU trade relations with Latin America

Results and challenges in implementing the EU-Colombia/Peru trade agreement
Publisher: 
European Parliament
City: 
Brussels
Volume, number, page: 
58 p.
Considered Countries: 
Abstract: 
The Trade Agreement between the EU and Peru and Colombia has been provisionally implemented since the middle of 2013. However, based on limited secondary data available to date on its effects, this report shows that trade profiles have not been substantially altered. EU exports to Latin America are dominated by pharmaceuticals, machinery and vehicles, and have experienced very slight increases. Colombian exports to the EU have benefitted more than Peruvian exports from improved access, but oil and minerals remain the top exports. Fruit, vegetables, flowers and above all sugar cane and confectionaries have been the greatest beneficiaries of the tariff eliminations and reductions. Despite this lack of substantial change, the institutional arrangements and sub-committees created by the Agreement have been implemented. Civil society has also been involved in meetings of the Trade and Sustainability sub-committee, but resource and capacity constraints preclude smaller organisations from full participation in the process. Sadly, reports of the human rights situation in Colombia, in particular the plight of trade unionists, continue to be negative. Although the Government has made progress in legislative terms, the full implementation of measures at the local level remains incomplete and challenging

LAIF, Latin America investment facility, CIF Caribbean Investment Facility

2015 operational report
City: 
Brussels
Volume, number, page: 
47 p.
Abstract: 
The Latin America Investment Facility (LAIF) and the Caribbean Investment Facility (CIF) are two of the EU’s regional blending facilities, innovative financial instruments that use EU development grants to leverage additional investment from European and Regional Development Finance Institutions to implement key infrastructure and private sector support projects in partner countries.
This report, which covers the Facilities’ operational activities in 2015, provides a detailed overview of projects funded in a wide range of sectors,
from transport and energy, to water, sanitation and the environment. The report also describes how LAIF and CIF support the EU’s development priorities in their respective regions by engaging with the private sector to ensure that development assistance has the widest possible impact and
contributes to poverty eradication and to economic growth and job creation.
The Facilities also support policy objectives related to climate goals, with projects that contribute to partner countries’ capacity to adapt to and
mitigate the impacts of climate change.

Agricultural Trade Liberalization

Policies and Implications for Latin America
Agricultural Trade Liberalization
Publisher: 
IDB
City: 
Washington D.C.
Volume, number, page: 
374 p.
Category: 
Abstract: 
This book investigates key issues in regard to liberalization of agricultural trade in the Western Hemisphere, including potential scenarios for liberalization at the regional and multilateral levels, the effects of U.S. and European Union agricultural policies on trade, and how a Free Trade Area of the Americas and a European Union-MERCOSUR trade agreement might affect agricultural trade flows. It also examines agricultural liberalization in the U.S.-Central America Free Trade Agreement and suggests a food security typology for use by the World Trade Organization.

Overview and figures

in-depth analysis
Overview and figures
Publisher: 
European Parliament
City: 
Brussels
Volume, number, page: 
24 p.
Considered Countries: 
Abstract: 
Trade relations between the EU and Latin American countries have come back into the spotlight in recent years. Collectively, the countries forming the Community of Latin American and Caribbean States (CELAC) represent the fifth largest trading partner of the EU. The EU has concluded agreements with two Latin American (LA) groupings (Cariforum and the Central America group) and with four other Latin American countries (Mexico, Chile, Peru and Colombia). The FTAs concluded by the EU with Latin American countries differ considerably in terms of coverage and methodology depending on the time at which they were concluded and the context of the negotiations. The EU now aims to modernise the oldest FTAs, concluded with Mexico and Chile, in order to align them to the current standards of EU FTAs. The longstanding negotiations on a comprehensive trade agreement with Mercosur – which would mean the EU then had trade agreements with nearly all of Latin America – are yet to pick up pace, however

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