Latin America looks east to fill voracious Asian demand

[Judi Lynn]

SATURDAY
NOVEMBER 20, 2004

Latin America looks east to fill voracious Asian demand


By Alan Clendenning
THE ASSOCIATED PRESS


SANTIAGO, Chile — Driven by voracious Asian demand, Brazilian and Argentine farmers are scrambling to plant as much soy as they can, while Chilean mine workers rack up overtime burrowing into the earth for copper.

With China buying up all the raw material it can to fuel an unprecedented economic expansion, Latin America is looking east across the Pacific Ocean to build on a booming trade relationship that has no end in sight. And Asian countries — particularly China — are looking for political payback for being good customers.

Before he arrived at this week's Asia-Pacific Economic Cooperation summit of 21 economies facing the Pacific, Chinese President Hu Jintao got the red carpet treatment in a weeklong trip to Brazil and Argentina.

Hu was quickly rewarded by Brazil and Argentina with a prize: Declarations by both countries that the Asian giant is now a market economy, a status China has been seeking worldwide to keep countries from imposing penalties on the dumping of Chinese exports.
(snip/...)

http://www.suburbanchicagonews.com/business/e20apec.htm

[DireStrike]

1. "Latin America is looking east across the Pacific Ocean"

huh?

Oh well. The point is: China in, USA out.