The Economic Commission for Latin America also pointed out that affected by the epidemic, Latin America is currently facing a series of problems, such as a soaring unemployment rate and a sharp increase in poverty. The long-standing single problem of industrial structure has also worsened.
China-Latin America cooperation is eye-catching
As an important trading partner of many Latin American countries, China's economy was the first to recover strongly under the epidemic, providing an important impetus for the economic recovery in Latin America.
In the first half of this year, the total import and export volume of China and Latin America increased by 45.6% year-on-year, reaching US$2030 billion. ECLAC believes that the Asian region, especially China, will become the main driving force for the growth of Latin American exports in the future.
Brazil’s Minister of Economy, Paul Guedes, recently pointed out that despite the impact of the epidemic, Brazil’s exports to Asia, especially China, have increased significantly.