A smelter at the El Teniente mine, which produces 37 percent of Chile’s copper. Credit:Marianela Jarroud/IPS
WASHINGTON, May 16 2014 (IPS) - China’s massive urbanisation has been built, literally, by metal, supplied mostly by Latin American countries (LAC). Yet now China’s slowing economic growth and falling commodity prices threaten Latin American commodity booms.
“As commodity prices decline, Latin American policy-makers will wish that they had used some of the benefits of the commodity-boom to diversify into other sectors,” Kevin Gallagher, professor at Boston University and author of a recent China-Latin America bulletin published by Boston University’s Global Economic Government Initiative (GEGI), told IPS