13 ژوئيه, 2008 - Published 11:10 GMT

Mexico China trade talks

The economies of Argentina, Brazil, Peru and Chile have all boomed in recent years on the back of exporting more commodities to China like soya, iron ore, copper and other metals. But Mexico has mostly suffered from competition with China particularly as it supplies similar manufactured products like shoes and clothing to the US market. Indeed, many in Mexico see China as more of a threat than an opportunity. They point to the loss of foreign investment in Mexico's assembly industries, which has shifted to China because wages there are generally much lower. Mexico also has a large trade deficit with China of more than twenty billion dollars.

President Calderon is hoping to change all this. He is keen for Chinese companies to come to Mexico as China's foreign investment last year was a meagre four million dollars. That compares unfavourably with the hundreds of millions of dollars Chinese companies have invested in Peru's mining industry and Venezuela's oil and gas sectors. Mexican law prevents foreign investment in the state-owned petrol company, but the president is still hoping for joint business ventures in the steel, car and computer industries.

A large trade delegation from Brazil is also in China this week. Businessmen from Latin America's two largest economies are clearly keen to get a share of the growing demand from China's burgeoning middle class.

James Painter, BBC

boomed
سریعا رونق اقتصادی پیدا کرده

on the back of
در نتیجه.....

as more of a threat than an opportunity
بیشتر یک خطر و تهدید است تا یک فرصت و شانس

assembly industries
صنایع مونتاژ

a large trade deficit with
یک کسری موازنه بازرگانی قابل توجه با..(چین)

foreign investment
سرمایه گذاری خارجی

a meagre four million dollars
یک مبلغ ناچیز چهار میلیون دلاری

compares unfavourably
مقایسه ای که نتیجه آن مطلوب و مثبت نیست، در اینجا: مکزیک در مقایسه با پرو و ونزوئلا از سرمایه گذاری های چین در آمریکای لاتین، بی بهره مانده است

joint business ventures
سرمایه گذاری های مشترک بازرگانی

burgeoning middle class
طبقه متوسط رو به رشد