Caribbean News Now!

About Us Contact Us

Countries/Territories

Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.

Contribute

Submit news and opinion for publication

Subscribe

Click here to receive our daily regional news headlines by email.

Archives

Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin
Instagram



News from the Caribbean:




Back To Today's News

Commentary: China and CELAC: Is China redefining its engagement?
Published on January 14, 2015 Email To Friend    Print Version

By Anton Edmunds

While many look at the China-CELAC forum as an event that will strengthen cooperation and deepen ties between China and the countries of Latin America and the Caribbean, the results of this meeting may be starkly different than what is being envisioned.

anton_edmunds.jpg
Anton Edmunds is an emerging markets expert and corporate consultant. He heads The Edmunds Group International, blogs at www.onthecaribbean.com, tweets at @theedmundsgroup and can be contacted via email at anton@antonedmunds.com or anton@theedmundsgroup.com
While committing to doubling trade with the region to over $500 billion and providing an economic lifeline to Venezuela and Ecuador in loans are nothing to scoff at, the reality may well be that China is searching for a mechanism under which to coordinate the over 150 bi-lateral agreements that it has signed with countries in the region and advance a China-Regional agenda, versus trying to manage disparate requests for support.

In some respects, China may be pursuing the same path taken by major powers, in assuming that the region can be dealt with as a bloc. As to whether a China-CELAC mechanism can serve to do this while other frameworks have failed is uncertain, especially considering how fragmented the countries of Latin America and the Caribbean are in terms of their economic development levels, and social and political agendas.

That said, supporting an effort to stand up institutions within CELAC is likely to be a cheaper proposition than trying to handle multiple parties increasingly approaching with hat in hand. Interestingly, a China-CELAC arrangement may well add a level of complexity to the already overlapping agendas of the alphabet soup of entities established to advance cooperation within and outside of the hemisphere.

The ability of smaller countries such as those within the Caribbean and Central America to finance active engagement within China-CELAC institutions while managing existing obligations will be interesting.

Fundamentally for Latin America and the Caribbean, gone are the days of China’s largesse through grants and free stadiums. The new China is a slowing economy, whose leaders will be primarily focused on domestic economic growth and employment in 2015 and beyond. While a more mature relationship with the larger regional economies will continue to center around market access for Chinese goods and services, and the sourcing of raw materials for China’s domestic market, there should be concern by smaller economies in the Caribbean and Central America as to their futures.

For many observers, the sense is that the smaller regional economies of the region will be relegated to the sidelines, unless they serve some particularly strategic interest. Logistics hubs and fossil fuel producing countries stand out as those that justify interest. Sadly for smaller economies, the relationships of the future way mirror that which exists with the US, with sporadic initiatives and engagement the best to be expected.

Ultimately, it is a key plank of China’s political agenda, which is to be active within this hemisphere that will guarantee a certain level of presence. While the bulwark against Taiwan’s influence may be no longer needed, Chinese interests align with some regional countries in a common desire to try to keep the US in check.

US active engagement in Asia through the proposing of trade agreements that exclude Beijing and a military presence in support of traditional allies clearly irritates China. As a result, China as an economic power is willing to flex some muscle in the hemisphere while the US struggles with domestic problems, a fractured political system and foreign policy flashpoints in the Middle East.

For some in the region, China’s involvement goes beyond economics and rests in the political realm, as that the country’s firm position on non-interference in internal matters by external parties -- notably the West – is quite appealing.
 
Reads: 10269





Click here to receive daily news headlines from Caribbean News Now!




Back...

Comments:

Hudson George:

Anton Edmunds, while you keep on focusing on the expansion of China in Latin America, I think you should be looking into the role western powers played in the days when all Latin american countries were Banana Republics.

In addition, the North American Free Trade between Canada, United States and Mexico destroyed the traditional ways of business in the region.

Maybe, you should ask the question: Why Ronald Reagan free trade policy open up the way for China economic growth?

This present generation of Caribbean youths are suffering. The banana industry is dead. President Clinton and Chiquita create higher unemployment in the Caribbean islands.

We as Caribbean people should focus more on technology and stop wasting time on cold war politics.



Back...

As a result of our comments feature being overtaken in recent weeks by spammers using fake email addresses, producing a large number of bounced verification emails each day, we have reluctantly decided to suspend the comments section until further notice.

Disclaimer
User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.






Other Headlines:



Regional Sports: