The Chinese dream of achieving a moderately prosperous society by 2020 will have a positive impact beyond China's borders, especially in Latin America, according to Argentine experts.
Nadia Radulovich and Maria Cecilia Peralta, co-founders of the Argentine consulting group Asia Viewers, said the Chinese government's development goals represent opportunities for the region.
"Latin America should not view it just as a Chinese strategy to attain food and energy security, but also as an opportunity for regional economies to transform their production structures and to make the most of a market that consumes increasingly more sophisticated products," said the consultants.
By taking advantage of China's evolution, regional economies could "generate goods and services with greater added value in sectors where Latin American countries have more comparative advantages," they said.
China's average economic growth rate of 6.7 percent "is good news for the world in general, due to the impact" its dynamic production sector can have on the sluggish global economy, said Radulovich and Peralta, who both serve as consultants on China-related affairs to the Argentine Council for International Relations.
Since the concept of the Chinese dream was proposed four years ago, they said, China has made significant progress in key areas, including state governance, and in implementing reforms, development targets and foreign policy.
"In a global macroeconomic context marked by frail growth or stagnation, China should seek strategic partners with which it can undertake ... investments that place both sides on the path to growth, consumption, and trade in goods and services" to jointly improve their quality of life, they said.
Complementarity can help bolster the relationship between China and Latin America, they noted.
"For Latin America, bilateral accords with China, and agreements between regional blocs and China, can generate great benefits for both sides," they said.
China's economy has shown great resilience. However, "To realize the Chinese dream, China cannot rely solely on domestic policies" especially given "a global economy marked by uncertainty and changing blocs," said Radulovich.
