While some difficulties exist in the greater economy of Latin America and the Caribbean, recent data shows that one Chinese investments and trade have created many jobs in these regions.
The International Labour Organization released research Sept. 7 indicating that collaborative efforts between China-based businesses and Latin American enterprises created more than 1.8 million jobs between 1990 and 2016. This constitutes approximately 4 percent of the total employment across the region, and ILO economists believe that number may be a conservative estimate.
In the preface to the study, ILO Regional Director Jose Manuel Salazar stated that his organization undertook this research effort to eliminate a lack of knowledge regarding the effects of China’s investments in Latin America on regional employment.
“Public and private Chinese companies are not only buying raw materials in the region, but also investing in mining, agriculture, industries and services, including financial and banking services,” Salazar wrote. “These companies are participating in bidding processes for large projects and building numerous significant infrastructure works.”
In addition to growing stronger in the aforementioned sectors, Latin America has emerged as a burgeoning tech development center. According to Forbes, regional hubs like Mexico City, Medellin, Colombia; and Santiago, Chile attract significant investment from tech startups.