By Daniel Lederman, Marcelo Olarreaga, Guillermo E. Perry
The commercial successes of China and India are seen with admiration but additionally with drawback as a result of the results that the expansion of those Asian economies could have at the Latin American and Caribbean (LAC) area. The facts in ''China's and India's problem to Latin America'' shows that definite production and repair industries in a few international locations were negatively laid low with chinese language and Indian festival in 3rd markets and that LAC imports from China and India were linked to modest unemployment and adjustment expenditures in production industries. The booklet additionally presents great proof of optimistic combination results for LAC economies linked to China's and India's higher presence in global exports, monetary flows, and innovation. chinese language and Indian development is developing new creation chances for LAC economies, rather in sectors that depend on ordinary assets and clinical wisdom.
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Extra info for China's and India's Challenge to Latin America: Opportunity or Threat?
Sample text
2007) found that tariffs tended to be higher on products heavily imported from China, but lower on goods imported from India. The evidence they provide is not limited to tariffs, however: nontariff barriers have become a predominant form of protectionism and Chinese exporters have been particularly hit by LAC countries, while Indian exporters enjoyed below-average levels of protection in LAC. For example, Brazil initiated 15 antidumping cases against China as notified to the World Trade Organization; Argentina initiated 40 cases; and in the early 1990s, Mexico imposed antidumping duties of more than 1,000 percent on imports of shoes, toys, and textiles from China (Dominguez et al.
Evidence also shows that China and India may be pushing some LAC manufacturing sectors in some countries toward low-wage, unskilledlabor-intensive activities (for example, the apparel sectors in Haiti and Nicaragua), because there is more scope for substitution in skilled-laborintensive industries. In other countries and sectors, in contrast, firms are adjusting toward higher-quality and skill-intensive products (for example, apparel in Costa Rica and the Dominican Republic). Such differential effects are explained by variations in both factor endowments and the quality of policies and institutions.
Baroncelli, Krivonos, and Olarreaga (2007) explain this pattern using a model with vertically differentiated goods, and show that incentives to discriminate against relatively close substitutes are larger because they lead to larger increases in profits for domestic producers and smaller declines in consumer welfare. Conversely, incentives to discriminate against products at opposite ends of the quality spectrum are small because any discrimination would be captured by other producers in the middle of the quality spectrum.