Richard Feinberg On U.S. Delay in Finalizing Free-Trade Agreements
China picks up U.S. slack in trade
10/02/2011
Michelle Quinn,
Politico
While Congress and the White House focused on foreign wars and a stagnant economy, shunting free-trade pacts to the sidelines, Latin America made a new best friend: China.
Hungry for natural resources, China has overtaken the U.S. as the chief trading partner in Brazil, Chile and Argentina. It’s poured money into new ports and roads and used free-trade pacts to make Chinese brands like Lenovo computers and Chery automobiles widely available to Latin American consumers. China’s next step? A move into the region’s service sectors — for example, banking.
For U.S. officials, the growing Chinese trade presence in the hemisphere is a source of debate: Is it a sign of the success of globalization or a potential economic menace?
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Richard Feinberg can comment on U.S. foreign policy matters, notably with regard to Latin America and Asia, and business and economic matters.
