| Cooperation between China and Latin America, which traditionally relied on trading commodities, has to explore new areas amid the fall in the price of commodities. In its latest World Economic Outlook report, the International Monetary Fund (IMF) identified the end of the commodities supercycle as one of the major economic threats currently facing the world.
Many emerging economies, which rely heavily on exports of raw materials, are clearly suffering. For example, raw and intermediate products make up 62 percent of Brazil's total exports; countries such as Chile and Peru have similar trade breakdowns. It is no wonder that the fall in the price of oil, iron, copper and other minerals has left them uncertain about how to rebalance their foreign trade...............................................Full Article: Source
|