FGV participates in Chinese government event with Latin American think tanks

24 October 2013

Fundação Getulio Vargas will participate, until October 30, in an event organized by the Chinese government which brings together the most important Latin American think tanks. The goal is to deepen China's knowledge about the region and also learn about the evaluation of such institutions in the Asian country. Professor Evandro Menezes de Carvalho, from Rio de Janeiro Law School (FGV DIREITO RIO) and the researcher Marina Drummond, from FGV's Prospecting and Intelligence Center represented FGV at the event. 

For Evandro, who will talk about the theme The challenges of a Free Trade Zone between China and Mercosul, the meeting is an opportunity to exchange ideas and expand mutual understanding between China and the countries of Latin America through debates with specialists in Law and Economics. There are many obstacles to make this free trade agreement happen. Although the trade balance is favorable for South American countries in business relations with China, the fact is that there is a fear of deindustrialization of the region due to the high competitiveness of the manufactured and semi-manufactured Chinese products, strengthened by the devaluation of the Yuan (Chinese currency) which favors Chinese exports. The diversification of the export agenda of South American countries is the main issue at the bargaining table with the Chinese, he explains.

The professor also highlights the infrastructure problems of Mercosul countries. Although the block relies on the Structural Convergence Fund for Institutional Strengthening (FOCEM), the projects implemented are insufficient and of questionable efficiency and quality - factors that render difficulties for a trade relationship with China under more competitive basis.

FGV and the Institute of Applied Economic Researches (Ipea) are the Brazilian institutions invited to the event, which will also be attended by representatives from Argentina, Chile and Uruguay.

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