China , theEUandLatinAmerica:TrilateralRelationsandScopeforMultilateralism 4 29 mouldaneconomicpowerhouseabletocompeteglobally. 6.犃犌犾狅犫犪犾犖犲狑犇犲犪犾 ? However , thepresentcrisishasalsoreinforcedasenseofthevulnerability ofdevelopingcountrieswithregardtoglobalisationtakingplaceinaccordance witheconomicandfinancialrulesnotoftheirmakingandfrequentlyweighted againstthem.Thisisnottosaythatglobalisationshouldbereignedinor , much less , reversed.Quitethecontrary , mostofLatin Americaopposestrade protectionismasananswertothedownsideofglobalisation. Thefinancialcollapsehasputinstarkterms whatclimatechange had alreadymadeclear:globalgovernanceinitspresentformatisunsustainable.The inabilityofoldcoalitionsthat , traditionally , decided mostissuestoprovide leadershipandcredibleguidancehasbeenhighlightedbythefranticsearchfora replacementforthe G8 oreventhe UN Security Council.Butemerging markets — thatcontributedlittletothepresentcrisisortoglobalwarming — have becomecentraltoanysolutiontothesequestions , giventheirgrowingroleinthe worldeconomy.Atthesametime , theircitizensaretheimmediatevictimsof bothcrises.Thisexplainsthegrowingclamourforanewglobalcompactthat redistributesresponsibilitiesmoreequitably.Underlyingthesedevelopmentsis therealisationthatthecontemporaryworldisfundamentallyunbalanced:onthe onehand , richcountriesdesiretoretainwhatisclearlyanunsustainableliving standard , while , ontheotherhand , emerginganddevelopingnationsaspireto higherlevelsofprosperity.Thishighlycomplexandsometimesperversesocial , technological and economic interconnectivity — which we loosely call globalisation — hasacceleratedwiththegrowthoftheemergingeconomies.Given theirincorporation underextremelycompetitiveconditionsintothe global divisionoflabour , thesecountriesareachievinglevelsofproductivity — and thereforeofconsumption — thataregraduallyclosingthegap withdeveloped regions.Theresultisgrowingpressureontheglobalsupplyoffood , mineraland energyresources , ontheonehand , andthe migrationofjobs , peopleand investmentsfrom NorthtoSouth , ontheotherhand.Thedownsideofthis phenomenonissplashed overnewspaperheadlines:foodriots , backlashes againstforeignworkersandbruisingcompetitionforaccesstoincreasinglyscarce resources , temporarilyhaltedduetothepresentdownturn. Undersuchchallengingcircumstances , leadersandentrepreneursinemergingand developingregionshavebeguntoaskanumberofpointedquestions: ( 1 ) Willrichcountriesacceptgloballysanctionedsolutionsthatinvolve
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China, the EU and Latin America : current issues and future cooperation
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