Business / Economy

China's new normal offers opportunity for South America, expert says

(Xinhua) Updated: 2016-09-08 09:36

BUENOS AIRES - China's "new normal" opens up opportunities for South America, especially in terms of investments in large development projects and public-private partnerships, according to Juan Notaro, executive president for the Financial Fund for the Development of Countries of the Rio de la Plata Basin (Fonplata).

In an opinion piece published Tuesday in the La Nacion daily, the expert remarked that "China's new normal seeks a different balance between domestic consumption and investment, while seeking to consolidate the middle-class in cities, leading a change in its economy by prioritizing the areas of advanced knowledge and technology."

"China is a privileged commercial partner for Argentina, Brazil, Paraguay, Bolivia and Uruguay, all members of Fonplata," Notaro said.

In this context, he wrote that "China's new normal brings about an adjustment to the traditional export model for our commodities and opens opportunities for Chinese investment in large development projects and public-private partnerships."

According to Notaro, while the "new normal" will lead to smaller and more sustainable growth rates, China continues to be an engine for the global economy.

The expert concluded that regional platforms, such as Fonplata, could act as bridges for ambitious projects in partnership with China. "Beyond bilateral agreements with member countries, we see in our exchanges with China that there is great potential in working together through integrated platforms," wrote Notaro.

Hot Topics

Editor's Picks