By: Economic & Finance Report
The world has reacted to the death of Fidel Alejandro Castro Ruz.
Friday evening into Saturday, world leaders, people around the world, Cubans and Cuban Americans gave their own interpretations and reactions to the man who ruled Cuba for close to 50 years, Fidel Castro. -SB
By: Economic & Finance Report
The Dominican Electricity Industry Association (ADIE) has specified to the Dominican Republic that it is owed $800 million dollars for power supply usage at national electrical plants and facilities. The association has indicated that the government owes power supply producers the vast of the $800 million due. They have threatened to cut of power and electricity on the island if the money is not soon to be repaid.
Govt analyst believe a sure blackout could occur, and would put a halt on the activities and largely effect the economy in DR. The government in DR has not paid the power suppliers for more then eight months, and the association does not want to extend anymore credit or “produce anymore lifelines for the country”, until they are fully paid.
So far government officials have not come with any solution on how to finance nor start repaying the power suppliers. -SB
By Economic & Finance Report
It has been perceived that China’s economic slow growth recently may be affecting the Latin America’s economy, because of the lack of China’s purchasing raw materials in Latin America. Raw materials such as soybeans (Argentina), copper (Chile), coffee (Brazil) have seen recent drastic declines, especially since China’s has reduced its ability to purchase these lucrative commodities.
Countries such as Venezuela have been hit hard by the recent slowdown especially with the declining of oil and other precious resources. The IMF has predicted a country such as Venezuela will be contracting for the next two years, this year and next year.
It is stated that Latin America has focused to heavily on raw material output and not enough on diversifying other sectors in regional production. Many analysts speculated that China’s cheap labor eventually would outcompete Latin America’s labor force, which it did and the manufacturing sector in Latin America’s economy has suffered horribly for it.
A growing and stable China helped cultivate and economize many Latin American countries, and it is without this growth that stagnated the continent as well.Though it is implied by economists that Latin America may now need to focus more on regional development export and imports in the regional instead on dependency that has been plagued for decades by China, since the 1970s.
China has rebutted that the economic slowdown will be a long term effect to Latin America. They insist that the commodities that are exported to China serve as a mutual benefit for both Latin America and China, even more so then exports to the United States. As time passes and trade is one of the main focal points between China and Latin America, it remains to be seen how this economic barrier or stagnation develops itself, if or when it does…