“A more symmetrical strategic relationship must be established between China and Latin America": Eleonora Silva

The transformation experienced by China represent a "great opportunity" for the development strategy in the region and in Peru, highlighting the importance of the construction of effective cooperation schemes. 

This was one of the main conclusions of the International Seminar "The China connection in Peru´s foreign policy in the XXI century", organized by the London School of Economics (LSE), the Institute for International Studies (IDEI, for its acronym in Spanish), and the Government and Public Policies School at the Catholic University of Peru (PUCP, for its acronym in Spanish). 

The event was carried out as part of a project of the LSE's Global South Unit regarding public policies toward China in the countries of the Pacific Alliance. The event was sponsored by CAF, Development Bank of Latin America, in the framework of the strategic alliance between both institutions, to promote knowledge on the role of emerging countries in the new international scenario. 

During the inauguration of the event, Álvaro Méndez, LSE researcher, stated that the transition of the Chinese economic model, from an economy that is focused on exports to one that depends on internal consumption, has had a negative impact on the demand for raw materials and, therefore, on their prices. 

Javier Alcalde, Coordinator of the Research Team for International Order at the Government and Public Policies School of the PUCP, stated that the consolidation of domestic consumption in China will open new perspectives for Latin American exports, especially for the food industry, services, and tourism, where Peru has great potential. 

Fabian Novak, Director of IDEI, highlighted the importance of the complementarity of the Asian and Latin American economies, as well as the positive impact that the accelerated Chinese growth has had on our region's investments and exports. 

After pointing out that "work must be carried out to establish a more symmetrical, long-term, comprehensive, dynamic, and balanced strategic relation between China and Latin America", Eleonora Silva, CAF's Director Representative in Peru expressed that there are no impediments for the Latin American region to emulate the success of the Asian economies in the past fifty years, In this respect, she said that CAF will continue to play a "catalytic role", building bridges to strengthen the relations between Latin America and Chine so that they can take full advantage of the above mentioned opportunities.  

She added, "Our commitment is to continue working in the follow-up of the contacts established by CAF with public and private entities in China, as well as identify new contacts and business opportunities for the region. In addition, we are aware that one of the key aspects to create a sustainable relationship with China, is to support education and the exchange of knowledge between both parties". 

The event brought together regional and global experts to discuss relations between China and Peru, and included Chris Alden, bestselling author of "China in Africa" and Director of the Global South Unit at the LSE. Fourteen international speakers from the academic, commercial, and diplomatic worlds also participated in the event, among which were Gonzalo Gutiérrez, former Minister of Foreign Relations of Peru, Luzmila Zanabria, former Ambassador of Peru in China, Julio Chan, General Coordinator of the ASIA-Pacific Economic Cooperation (APEC), and other renowned international experts.