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China, the EU and Latin America : current issues and future cooperation
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01 犆犺犪狆狋犲狉7 犗狆狆狅狉狋狌狀犻狋犻犲狊犪狀犱犆犺犪犾犾犲狀犵犲狊犉犪犮犻狀犵犆犺犻狀犪犪狀犱犕犈犚犆犗犛犝犚 犻狀狋犺犲犆狅狀狋犲狓狋狅犳狋犺犲犉犻狀犪狀犮犻犪犾犆狉犻狊犻狊 B# 0#3<1,'A 1.犗狏犲狉狏犻犲狑狅犳犈犮狅狀狅犿犻犮犚犲犾犪狋犻狅狀狊犫犲狋狑犲犲狀犆犺犻狀犪犪狀犱犕犈犚犆犗犛犝犚 1.1 BilateralTradeRelations Traderelationsbetweenthe Peoples Republicof Chinaand member countriesoftheSouthAmericanCommonMarket MERCOSUR datebackto the1950s.Intheearly1960s whenChinawasexperiencinggreatdifficulties grainmerchantsinArgentinadefiedtheeconomicembargoimposedbyWestern countrieson Chinatoconductconsiderablegraintransactions with China showingcourage whichhassincebecomeafamiliartaleintheSinoLatin Americantradecommunity. Forhistoricalreasons suchasalackofformaldiplomaticrelations the isolationofChinaseconomy andthesufferingsoftheGreatLeapForwardand theCulturalRevolutionbeforetheadoptionofamoreopenpolicy tradebetween ChinaandSouthAmericancountriesremainedatalowlevelforalongtime.As lateastheearly1990s tradebetweenChinaandMERCOSURstoodatamere USD800million 1991 .Despitetheaccelerationingrowth itwasstillless thanUSD5billionin2000.Inthelastdecadeofthetwentiethcentury average annualtradebetweenthetwopartieswasamereUSD2.7billion.Inthefirst twoyearsofthetwentyfirstcentury Latin AmericasufferedfromtheUS economicrecession whichkeptthegrowthrateofbilateraltradebetweenChina andMERCOSURonaparwiththepreviousdecade.Itisonlyinthepastsix yearsthattradebetweenChinaandMERCOSURhasgrownsubstantially. Between2003and2008 tradebetweenChinaand MERCOSURgrew rapidly.In2003 bilateraltradeexceededUSD10billionforthefirsttime.