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China, the EU and Latin America : current issues and future cooperation
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EmpiricalAnalysis:TradebetweenMERCOSURandChina EU TrendsandFigures 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 WhileChinaseconomicimportanceforLatinAmerica andforMERCOSUR inparticular hasincreasedexponentiallyoverthepastfewyears countriesin theregionshouldbewaryofpotentialcompetitionintheirdomesticmarkets. SincetheopeningupoftheChineseeconomyandthereductionofexportand importcontrols Brazilsand Argentinasforeigntradehasshownsustained growth which accelerated after China undertooktradereforms including significanttariffcuts inthe1990s.Chinasaccessiontothe WTOin2001 furthercontributedtothisdynamic. From the Chinese perspective however MERCOSUR remainsarelatively unimportantexport destination.In 2007 MERCOSURsimportsfrom China representedaround1.3percentoftotalChineseexports.Infact ifweaggregatesome ofthedestinationsofChineseexports LatinAmerica CIS AfricaandtheMiddle East ), eachofthemrepresents onaverage 3.8percentofChineseexports.Thebulk ofChinesegoodsarechannelledtoAsia NorthAmericaandEurope.Individually the UnitedStatesandJapanareChinasmaintradepartners. 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 20062007 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 91.6 100 220.1 100 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 EastandSouthEastAsia. Source:PreparedbytheauthorsbasedondatafromCOMTRADEstatistics.