Is the transnational corporation (TNC) an engine of growth capable of eliminating international economic inequalities or a major obstacle to development through a massive drain of surplus to advanced countries? This book presents five different perspectives on the role of TNCs: Neo-ClassicalGlobal ReachNeo-ImperialistNeo-FundamentalistInternationalization of capitalThe author looks at their effect on local labour and capital, and considers the future prospects for TNC
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When China invited the Latin American countries to participate in the Belt and Road Initiative, it fuelled expectations of a much closer and more productive relationship with the region. In practice, however, there is little evidence that this was happening even before the coronavirus disease 2019 pandemic. The article shows that neither the policy statements by China nor the trends in economic relations indicate a substantive change in Sino–Latin American relations and that the Belt and Road Initiative represents a repackaging of existing relations and the continuation of trends that have been underway since the global financial crisis.
There has been a lively debate in Brazil in recent years, involving sectors of business, the labor movement, and academics, over deindustrialization and the future of the manufacturing sector. This is often linked to the growing relation between Brazil and China, which is now the country's most significant trade partner. Brazil has experienced relative deindustrialization in the sense of a declining share of the manufacturing sector in gross domestic product that is mainly attributable to the changes in the country's trade balance in manufactures. The direct and indirect impacts of China on Brazilian manufacturing have contributed to this relative deindustrialization and the "primarization" of Brazilian exports through competition in the domestic market and in exports. Nos últimos anos, instaurou-se no Brasil um debate acirrado entre empresários, acadêmicos e sindicalistas sobre a desindutrialização e o futuro do setor manufatureiro. O fenômeno é frequentemente associado aos crescentes laços entre Brasil e China, hoje o mais importante parceiro comercial do país. O Brasil vem passando por uma relativa desindustrialização devida ao intenso declínio da participação do setor de transformação no Produto Interno Bruto. Atribui-se essa queda às mundanças provocadas pelos resultados da manufatura na balança comercial. Os impactos diretos e indiretos exercidos pela China sobre o setor secundário brasileiro têm contribuido para essa relativa desindustrialização, assim como para a primarização das exportações brasileiras por meio da competição no mercado doméstico e nas exportações.
The paper analyses the economic impacts of China's re-emergence on Brazil, looking at both the direct effects of China on Brazil in terms of bilateral trade and investment flows and the indirect effects through increased competition in export markets for manufactured goods and higher world prices for primary commodities. Despite a surge in Chinese FDI in Brazil in 2010, the main driver of bilateral relations is trade. While bilateral trade has grown rapidly, the pattern that has emerged has given rise to concern because Brazil's exports are concentrated in a small number of primary products while imports from China are almost entirely of manufactured goods that are becoming more technologically sophisticated over time. Brazil has benefitted in the short term from the high prices of primary commodities (partly caused by growing Chinese demand), but has lost export markets to China in manufactures, contributing to the "primarization" of the country's export basket. (JCCA/GIGA)
