The U.S.-China Economic and Security Review Commission says U.S. economic dominance in Latin America is being “eroded” by Beijing.
[October 18, 2018 | Inside US Trade]
“China’s emergence as the region’s second-largest trading partner, a major lender, and the fourth-largest investor is eroding U.S. economic dominance in the region,” the USCC said in an Oct. 17 report. “The size and continued expansion of China’s market creates enormous growth potential for [Latin America and the Caribbean] exporters (particularly in agriculture) that the U.S. market cannot match.”
The commission, which was chartered by Congress in 2000 to provide guidance on the national security implications of U.S.-China trade and economic relations, the “trading relationship where LAC exports commodities and imports Chinese manufactured goods reinforces LAC reliance on highly cyclical, low-value-added, and highly polluting sectors, and stalls LAC’s economic development.
“In addition, the rapid growth of LAC imports from China is decreasing U.S. market share in the region,” it adds.