Marcela Valente – IPS, 12/06/2011
South America has managed to withstand the knock-on effects of recession in the EU and U.S. thanks to the protection offered by the soaring Asian demand for commodities. But many things could change in the medium term.
There is a new centre of gravity in the world, comprised of emerging countries led by China, while the influence of the powers of the industrialised North is waning, experts in political science and the economy agreed at a recent seminar in Buenos Aires.
As a result of growing exports of food and mineral commodities to China, producers of those goods such as Argentina, Brazil, Chile, Paraguay, Peru and Uruguay have posted high levels of growth and achieved enviable fiscal stability, said participants at “Crisis in the developed world: opportunity for emerging countries” held Friday Nov. 2.