The Atlantic Council report outlines policy implications and recommendations for public and private sector leaders in Latin America given the reality of China’s growing importance and the imperative of turning around the damaging trends in its terms of trade with Latin America.
Latin America can take steps to ensure its commercial relationship with China brings the region closer to sustainable and equitable socioeconomic growth. Report authors Dante Sica, founder and director of ABECEB, Manuel Molano, deputy director of the Mexican Institute for Competitiveness, and Jorge Guajardo, former ambassador of Mexico in China highlight the following recommendations:
- Countries should take other defensive trade measures in addition to the anti-dumping measures such as countervailing and safeguard measures.
- Countries can make better use of national trade remedy measures in their own jurisdictions if trade-distorting subsidies are at the core of China’s success in the market.
- Governments in the region should join forces to negotiate trade and investment agreements with China in order to do so from a position of strength. It is easier for China to maximize its interests in the region through separate bilateral negotiations with governments.
- Latin American diplomacy should join in efforts to ensure that China meets international labor and environmental standards.