Latin Business Chronicle: The New Latin America presents many opportunities ( also for Europe) - By R. Viswanathan

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The New Latin America presents many opportunities ( also for Europe) - By R. Viswanathan

One would have expected the Latin American economies to come crashing down as a fall-out of the historical crisis in the united States and Europe. Not a single bank or financial institution went bust in the region while the United States and Europe faced collapse of companies and banks with turnover of more than that of the GDP of many of the Latin American countries.

None of the Latin American countries have gone to the IMF for rescue, even as some East Europaen countries have done so. While Iceland, situated far from the epicenter (USA) of the financial earthquake collapsed and had to seek rescue from Russia, none of the Latin American countries, which are in the proximity of the earthquake zone have suffered serious damage. There has been no panic summit meetings or rescue packages or nationalization of banks in Latin America.

In their October report the ECLAC (UN Economic Commission for Latin America and Caribbean) noted: "The economic slowdown and financial crisis in the United States will have a relatively modest impact on the Latin America and the Caribbean region in 2008, except for its exports. Compared to previous shocks in the United States economy and the world at large, Latin America and the Caribbean(LAC) is much less vulnerable than in the past, with a current account surplus, sounder public finances, a lower level and better profiles of public and external debt, and larger international financial reserves. Considering the severity of the global shocks, LAC economies are, on average, weathering the crisis significantly better than in the past." Despite the financial crisis, the region’s economic growth is projected to be 4.6 percent in 2008 and around 3.6 percent in 2009. Argentina's GDP will show a growth of 6.5 percent in 2008 and 3.6 percent in 2009. Brazil´s growth in 2008 is projected to be 5.2 percent in 2008 and 3.5 percent in 2009 while Mexico will have lower growth of 2.1 percent in 2008 and 1.8 percent in 2009. The growth of the region is sustained by a strong domestic demand. When the US sneezes the Latin American Region does not catch a cold anymore.

Expotec GmbH - Germany, Rostock - International Trade Fair for the Maritime Industry in the Baltic Sea area

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Germany, Rostock - International Trade Fair for the Maritime Industry in the Baltic Sea area

The 3rd Future Conference of the Maritime Industry of Mecklenburg-Western Pomerania will be held along with the trade fair Baltic Future on November 19, 2008. The conference is organized by the Department of Economic Affairs of Mecklenburg-Western Pomerania and the Maritime Board of the Rostock Chamber of Commerce. The proposed topics of the conference are a perfect supplement to the core themes of the trade fair: Maritime logistics, shipbuilding- and supplier industry as well as offshore wind power. Rostock Business will commit itself even stronger to offshore wind power. The company has already confirmed both: Cooperation with the Offshore-workshop of the Maritime Future Conference and a presentation at the trade show. Four lectures and a panel discussion will deal with the extension of medium-sized maritime industries in order to come to a linked-up production within complex superstructures for offshore wind power. Topics of high interest such as specific manpower training in the specialized sectors of this branch of industry will also be discussed.

Asia Times Online - China outwits the EU in Africa - by Bernt Berger

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China outwits the EU in Africa - by Bernt Berger

While China's business-first approach is undermining EU efforts to boost sustainability and governance standards, its investments have benefited African economies. China has increasingly regarded Africa as an opportunity, while Europe has long regarded the continent as a burden. In truth, both external development approaches are lacking, and neither can competently deal with rising issues on the continent alone.

China needs to consider the political dimensions of development. Focusing only on trade relations and government support can stand in the way of sustainable development, especially if governments remain ineffective and unwilling to reform. The EU, for its part, must revise its trade relations with Africa (including its own agricultural subsidies) and consider their crucial impact on locally owned development.