According to estimates by the Economic Commission for Latin America and the Caribbean, if China and the EU keep up the increase in demand for Latin American goods, in 2016 China will surpass the EU to become the second biggest market to import Latin American commodities. According to foreign trade statistics from the countries, in 2012 China was the biggest export destination for Brazil, Chile and Peru, and is the second biggest export destination for Colombia, Uruguay, Venezuela and Cuba, as well as the third biggest export destination for Argentina and the Dominican Republic. In the same year, China was the biggest source of imports for Brazil and Paraguay, and the second biggest source of imports for 12 other Latin American countries including Argentina (Table 1).

Most Latin American countries have now published 2013 statistics. For example, according to Brazil's statistics, in 2013, Brazil's export volume to China accounted for 19 percent of its total export volume, up from 17 percent in 2012. The import percentage also rose by 0.2 percent to 15.6 percent of its total import volume. Considering that the China-Brazil trade volume reached US$83.328 billion in 2013 (more than one third of China-Latin America's total trade volume), it is very significant for the whole region and for both sides to further strengthen their trade relationship.

Source：CEPAL, "Promoción del Comercio y la Inversión con China: Desafíos y Oportunidades en la Experiencia de las Cámaras Empresariales Latinoamericanas," p.15.

 But anything that is called a "miracle" will always make people worried. Behind the optimistic statistics, are there any predictable or unpredictable risks? It is clear that the variety of goods traded between China and Latin American countries are not balanced. There are very few categories of Latin America's exports to China, it is mainly natural resources; but China exports a variety of goods to Latin America, including capital goods.

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