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Chinese investments key to LatAm growth

Updated: Jun 1,2016 11:43 AM     Xinhua

MEXICO CITY — Chinese investments in Latin America and the Caribbean will be key to the growth and development of this region, especially for tourism and infrastructure, Colombian academic Jose Reyes Bernal Bellon said.

Chinese investments are “an added value that provides a big opportunity for the region. China’s market is huge compared to anyone in Latin American and it can help to sustain growth,” Bellon, a professor on international economics at the Antonio Narino University in Colombia said during the Third Latin America, Caribbean and China International Seminar in Mexico City.

The event was organized on May 30 by the Academic Network Latin America, Caribbean and China (RED ALC-China).

Bellon also said that China could address country-specific challenges, such as the lack of road infrastructure in Colombia, Bolivia and Peru.

“I feel that each country could overcome this delay through their bilateral ties with China. These investments can provide added value, as they create jobs, improve salaries, and make long-term differences to transportation costs,” according to Bellon.

“Mexico also cannot overlook this opportunity, therefore, it needs to create conditions for investments to benefit both parties,” he added.

The RED ALC-China was created in 2012 and has quickly become a reputable research forum, in which researchers, academics, international institutions, businesses, NGOs, governments and students meet to discuss common challenges and progress in the multilateral ties.

This year’s forum saw the discussion of various topics, including the learning of Chinese language in Latin America and the Caribbean and of Spanish in China, the challenge of migration, and the management of the environment and natural resources.