China boosts foreign investment in Latin America

[pampango]

Source: BBC

Foreign investment in Latin America grew by about 40% in 2010 to $113bn (£69bn), a UN study has said.

The fastest growing investor in the region was China, which barely registered between 2006 and 2009, but now accounts for 9% of the total. Brazil received the most foreign direct investment (FDI), gaining $48.5bn, followed by Mexico, with $17.7bn.

Alicia Barcena, executive secretary of ECLAC, said the figures highlighted the growing involvement of Latin America and the Caribbean in economic globalisation. She said that China's interest was expected to continue and contribute to further FDI growth, which is expected to be 25% this year.

Last year, China overtook the US as Brazil's biggest trade partner with more than $56bn in trade. However, the US still provides the biggest percentage of FDI in the region, accounting for 17% of the $113bn. The Netherlands is next with 13%, with China in third place.

Read more: http://www.bbc.co.uk/news/business-13294360