Ties good, but could be better

China and Latin American countries have deepened their economic ties over the past decade. According to China's statistics, two-way trade increased from $15 billion in 2001 to more than $ 200 billion in 2011, and Chinese investment in the region grew from $4.6 billion in 2003 to $43.9 billion in 2010. But there is still plenty of room for improvement.

China and Latin America both have benefited from their deepening economic ties. Latin American countries now get higher prices for their raw materials thanks to growing Chinese demand. In return, Latin Americans get inexpensive China-made goods. A steady supply of raw materials from Latin America has helped China's burgeoning economy and expanded the market for its finished products. In fact, China has already become the biggest trade partner of countries like Peru, Chile and Brazil.

While many developed countries are battling with low growth or even recession, China and Latin America nations experience robust growth. They are middle-income countries with a growing middle class, where internal demand is playing a bigger role in fueling economic growth. China and Latin American countries, however, need to strengthen their trade, investment and other economic ties, and expand their people-to-people exchanges.