Title

Sharing or Taking? China’s Economic Role in Latin America and the Caribbean

Proposal Type

Presentation

Additional Presenter Information

Associate Professor of Economics, Department of Economics and Finance, Mike Cottrell College of Business, Gainesville Campus.

Keywords

China; Latin America and the Caribbean; trade patterns; foreign direct investment; New South-South Development Paradigm;

Subject Area

Sociology/HSDA

Description/Abstract

Over the past three decades, China has emerged from being a developing country to the rank of having the second largest global economy with an output of $US$11.22 trillion in 2016. It has evolved as a global economic power utilizing a hybrid development model of both a dominant state-owned economic system blended with a sizable and significant market-oriented system. This blended model, along with China’s new found wealth, has enabled its remarkable economic engagement with emerging market economies and developing countries. China has been asserting its role as an emergent center nation while seemingly retaining its orientation as a periphery nation with a strong affinity for south-south cooperation with the developing regions of Africa, Asia, and Latin America and the Caribbean (LAC). Since 2010, China has bounded up the ranks as a significant trading partner to most LAC countries and is ranked number one in at least three countries in the region. Additionally, China has brought aid, foreign direct investment and infrastructural financing to the credit-deficient countries in the region with the unprecedented swiftness and force of a tropical storm. These economic linkages are relatively new, multi-faceted, expansive and development-oriented. They underline the first comprehensive and sustainable attempt by the region to diversify its economic relations with a country other than the traditional western center nations. This paper examines the rapid and expanding economic relations between China and LAC countries and the implications of these economic relations for the development prospects of the LAC region. It postulates a New South-South Development (NSSD) Paradigm to explain the economic engagement between China and the LAC. Data for this paper is derived from official sources such as the International Monetary Fund (IMF), The World Bank, the Economic Commission for Latin America and the Caribbean (ECLAC), the UNDP and other sources.

Bio

George K. Danns is a Professor of Sociology in the Department of Sociology and Human Services, University of North Georgia, Gainesville Campus. Dr. Danns was Chair of the University of North Georgia Faculty Senate. He has a PhD in Sociology from the State University of New York at Stony Brook and was awarded a Ford Foundation Fellowship for Doctoral Research in Latin America and the Caribbean. In February 2016, Dr. Danns received the Complete College Georgia Champion Award in Recognition of Superior Scholarship and Service. He served as Chair Department of Sociology, Dean Faculty of Social Sciences, Director of the Graduate School of Social Sciences, and Director of Resource Mobilization and Planning at the University of Guyana. He was a Senior Fulbright Fellow and a Visiting Professor in the Department of Sociology, University of Michigan, Ann Arbor Michigan. He was also Lecturer in the Department of Management, School of Business San Diego State University. Dr. Danns was an Editor of the Rose Sociological Series, American Sociological Association and Managing Editor of the Journal Transition of the University of Guyana. He was Director, Center for Economic & Social Research & Action (CESRA) in Guyana. He served as a social science research consultant to numerous international organizations including UNICEF, UNFPA, IADB, USAID, OAS, PAHO, Commonwealth Youth Program (CYP), Canadian Hunger Foundation (CHF) and also the Government of Guyana. He is current Chair, of the Editorial Board, University of Guyana Press. Research: He has conducted extensive research on Guyana and the Caribbean and has publications in areas such as university consolidation, race and ethnic minorities, political leadership, military, police and national security, social movements, suicide, environmental and natural disasters and China’s relations with Latin America and the Caribbean. Among his publications are: Domination and Power in Guyana, Transaction Books, 1982; Tomorrow's Adults: A Situational Analysis of Youth in the Commonwealth Caribbean with Ivan Henry & Patrice La Fleur, Commonwealth Secretariat1997. The Power of the Powerless: A study of Social Movements in a Third World Reality, International Journal of Mass Emergencies and Disasters. August 1986; Leadership and Corruption: An Analysis of Emergent Post-Colonial Rule in the Caribbean, Transition, IDS, University of Guyana.1980; The Role of the Military in the National Security of Guyana, in Militarization in the Non-Hispanic Caribbean, Lynne Reiner Publishers, Inc. 1987. Recent works include: Politics, Corruption and the Police, in Caribbean Political Thought: Theories of the Postcolonial State, edited by Aaron Kamugisha, lan Randle Press 2013. The Dialectics of Consolidation: Utopia, Dystopia and Creativity at the University of North Georgia” Journal of Education and Social Policy 2015 Vol. 2, No 4; October 2015. Challenging the Dominance of the World Bank and the IMF: The Role of the BRICS countries and the BRICS Bank in Latin American and the Caribbean, with Donna E. Danns, Journal of Business and Economic Policy. Vol. 2, No. 4; 2015. George Danns & Paget Henry and; Editors Special Issue of the CLR James Journal on: Clive Thomas: His Intellectual Legacy; CLR James Journal Vol. 22, (1–2) 2017.

This document is currently not available here.

Share

COinS
 

Sharing or Taking? China’s Economic Role in Latin America and the Caribbean

Over the past three decades, China has emerged from being a developing country to the rank of having the second largest global economy with an output of $US$11.22 trillion in 2016. It has evolved as a global economic power utilizing a hybrid development model of both a dominant state-owned economic system blended with a sizable and significant market-oriented system. This blended model, along with China’s new found wealth, has enabled its remarkable economic engagement with emerging market economies and developing countries. China has been asserting its role as an emergent center nation while seemingly retaining its orientation as a periphery nation with a strong affinity for south-south cooperation with the developing regions of Africa, Asia, and Latin America and the Caribbean (LAC). Since 2010, China has bounded up the ranks as a significant trading partner to most LAC countries and is ranked number one in at least three countries in the region. Additionally, China has brought aid, foreign direct investment and infrastructural financing to the credit-deficient countries in the region with the unprecedented swiftness and force of a tropical storm. These economic linkages are relatively new, multi-faceted, expansive and development-oriented. They underline the first comprehensive and sustainable attempt by the region to diversify its economic relations with a country other than the traditional western center nations. This paper examines the rapid and expanding economic relations between China and LAC countries and the implications of these economic relations for the development prospects of the LAC region. It postulates a New South-South Development (NSSD) Paradigm to explain the economic engagement between China and the LAC. Data for this paper is derived from official sources such as the International Monetary Fund (IMF), The World Bank, the Economic Commission for Latin America and the Caribbean (ECLAC), the UNDP and other sources.