On December 3, 2018, the Atlantic Council’s Adrienne Arsht Latin America Center gathered distinguished experts to discuss the US-China trade-and-investment relationship. It was the purpose of this forum to rigorously analyze and at times debate the tenuous relationship between the world’s two largest economies and formally introduce the report China-Latin America Trade at a Moment of Uncertainty: What Lies Ahead in 2019?, an Atlantic Council publication authored by Anabel González, former Costa Rican minister of trade and the World Bank’s former senior director of Global Practice on Trade and Competitiveness.
Dr. Wald summarized the two sets of sanctions. One set went into effect in August 2018 and the second went into effect in November 2018. Of particular note are sanctions on investment in Iranian oil and gas fields, shipping, insurance, tankers, sales of over $1 million worth of gasoline to Iran and any equipment which would help Iran make or export gasoline.
Africa Center Director of Programs and Studies and Deputy Director Bronwyn Bruton introduced Hruby’s paper and welcomed participants.
In her introductory remarks, Hruby stressed that The Better Utilization of Investments Leading to Development (BUILD) Act is a once in a generation opportunity to reassert US competitiveness in emerging markets. In Africa, the new USDFC will be critical to countering China’s growing economic clout and could help solve a growing employment crisis, while also supporting US businesses investing on the continent. Hruby shared the recommendations from her publication, focusing on the new USDFC’s ability to operate in the informal sector, invest in industries that complement US competitiveness, and foster innovation in development finance.