Asia’s rising frontier with Latin America

In a world where Europe and the United States are struggling, both East Asia and Latin America are outperforming the pack, even if they, too, face challenges.
And yet, more than 12 years since it started, the Forum for East Asia-Latin America Cooperation (FEALAC) has not grabbed headline attention — not in the way, say, the BRICs (Brazil, Russia, India and China) have. Still, the relationship has grown.
Notwithstanding the considerable distances, inter-regional trade has grown at an average of 20.5 per cent over the past decade, projecting to reach U$500 billion (S$626.9 billion) this year. The full range of goods crosses the oceans, from manufactures to agricultural products, with resources especially important. Global conditions are pushing the two regions closer. With the developed markets of the West still soft, the search is on for new markets and South-South cooperation. Read more...