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DragonomicsHow Latin America Is Maximizing (or Missing Out on) China's International Development Strategy$
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Carol Wise

Print publication date: 2020

Print ISBN-13: 9780300224092

Published to Yale Scholarship Online: September 2020

DOI: 10.12987/yale/9780300224092.001.0001

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Making Openness Work: Chile, Costa Rica, and Peru

Making Openness Work: Chile, Costa Rica, and Peru

(p.130) 4 Making Openness Work: Chile, Costa Rica, and Peru

Carol Wise

Yale University Press

This chapter details the Free Trade Agreements (FTAs) that China has negotiated in Latin America, with a specific focus on its bilateral FTAs with Chile, Peru, and Costa Rica. The author’s argument is twofold: first, these FTAs are part of China’s internationalized development strategy because they lock in essential raw material exports and represent the most institutionalized version of this internationalized development strategy in the Western Hemisphere. Second, these FTAs departed from neoliberal notions concerning the benefits of free trade based on general-equilibrium models and comparative advantage. Instead, these FTAs allowed Chile, Peru, and Costa Rica rapid access to the Chinese market, the granting of industrial sector exceptions, and China’s readiness to lend for infrastructure and other productive projects.

Keywords:   Free Trade Agreement, Multilateralism, World Trade Organization (WTO), Natural Resources, Tariff, Duty-Free, Chile, Peru, Costa Rica

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