EmpiricalAnalysis:TradebetweenMERCOSURandChina / EU TrendsandFigures 2 69 3.犅犻犾犪狋犲狉犪犾犜狉犪犱犲犫犲狋狑犲犲狀犕犈犚犆犗犛犝犚犪狀犱犆犺犻狀犪 WhileChinaseconomicimportanceforLatinAmerica , andforMERCOSUR inparticular , hasincreasedexponentiallyoverthepastfewyears , countriesin theregionshouldbewaryofpotentialcompetitionintheirdomesticmarkets. SincetheopeningupoftheChineseeconomyandthereductionofexportand importcontrols , Brazilsand Argentinasforeigntradehasshownsustained growth , which accelerated after China undertooktradereforms — including significanttariffcuts — inthe1990s.Chinasaccessiontothe WTOin2001 furthercontributedtothisdynamic. From the Chinese perspective , however , MERCOSUR remainsarelatively unimportantexport destination.In 2007 , MERCOSURsimportsfrom China representedaround1.3percentoftotalChineseexports.Infact , ifweaggregatesome ofthedestinationsofChineseexports ( LatinAmerica , CIS , AfricaandtheMiddle East ), eachofthemrepresents , onaverage , 3.8percentofChineseexports.Thebulk ofChinesegoodsarechannelledtoAsia , NorthAmericaandEurope.Individually , the UnitedStatesandJapanareChinasmaintradepartners. 犜犪犫犾犲2 犆犺犻狀犪狊犈狓狆狅狉狋狊 , 犫狔犚犲犵犻狅狀犪狀犱犛犲犾犲犮狋犲犱犈犮狅狀狅犿犻犲狊 , 20062007 ( 犝犛犇犫犻犾犾犻狅狀 ) 2006 % 2007 % World 968.9 NorthAmerica 219.3 UnitedStates 203.8 Europe 215.4 EuropeanUnion 190.0 CIS 28.0 LatinAmerica 32.8 MERCOSUR 10.1 Africa 26.6 MiddleEast 36.9 Asia 410.7 Japan 91.6 100 1 , 220.1 100 22.6 252.5 20.7 21.0 233.2 19.1 22.2 288.4 23.6 19.6 245.6 20.1 2.8 48.1 3.9 3.3 48.1 3.9 1.0 16.1 1.3 2.7 37.4 3.0 3.8 54.8 4.5 42.3 501.0 41.0 9.4 102.1 8.3 Notes: TheCommonwealthofIndependentStates ( CIS ) comprisesArmenia , Azerbaijan , Belarus , Georgia , Kazakhstan , Kyrgyzstan , Moldova , RussianFederation , Tajikistan , Tur kmenistan , UkraineandUzbekistan. South , EastandSouthEastAsia. Source:PreparedbytheauthorsbasedondatafromCOMTRADEstatistics.
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China, the EU and Latin America : current issues and future cooperation
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