Chinese Pulling Latin Americans out of Recession

October 27th, 2009  |  Published in Newsroom Alerts

October 25, 2009 edition - By Sara Miller Llana | Staff writer of The Christian Science Monitor and Andrew Downie | Correspondent of The Christian Science Monitor - Mexico City; and SÃo Paulo, Brazil — Latin America, long tied to the economic well-being of the United States, finds itself in a rare position these days: recovering from the global financial crisis faster than most of the rest of the world.

After shrinking 2.5 percent this year, the regional GDP is expected to return to 2.9 percent growth next year, according to the International Monetary Fund’s World Economic Outlook.

But the recovery has two faces.

Brazil and other commodities-­exporting nations in South America are blazing the way forward thanks to increased trade with China, as Mexico and Central America languish from a sustained drop in demand in the US.

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