Latin Finance - November/December 2009 - 7

2000 to 16.0% in 2007. Exports to China in particular grew at an annual average pace of over 20% from 2000-07. The composition of Latin America’s exports has also shifted toward other emerging regions such as Africa, the Middle East, and the CIS but to a lesser extent than in the case of Asia. The existence of Latin America as a significant player in global trade is relatively new. While the bull market in commodity prices has surely been a factor, most economies in the region have become more open to trade in recent years. This is the result of many things, including exchange rates that are more flexible. The move to a more diversified trade base toward Asia also reduces the reliance on a limited number of export markets, and means that the economies are more resilient to economic slowdowns in the major economies. Another testament to the growing importance of trade between Latin America and Asia has been the rising number of trade agreements between the regions. Chile has been the clear leader in Latin America, signing deals with Malaysia, Japan, China, Singapore, Korea, and India. Peru signed a trade agreement with Singapore in May 2008 and with China in April 2009. There is also a trade agreement between the Mercosur customs union (Brazil, Argentina, and Uruguay) and India. This increase in demand from Standard Chartered’s traditional footprint for Latin America’s raw materials and commodities has been matched by Latin America’s demand for manufactured goods from Asia. We expect this trade linkage to continue to grow and have positioned our business accordingly to help our customers. In particular, Standard Chartered is leveraging its global trading, local markets, and research expertise around the emerging markets to facilitate these trade flows and service clients in Latin America and the rest of the Standard Chartered network. n About the author Douglas Smith is currently the Regional Head of Research for the Americas for Standard Chartered, based in New York. Headquartered in London, Standard Chartered PLC is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is ranked in the top 25 among FTSE-100 companies, by market capitalization. It has a history of over 150 years in banking and has an extensive global network of over 1,700 branches in 70 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. Doug has been with the Bank since 2002 and is the bank’s expert on Latin America as well as the representative of the Global Research team for the Americas. Prior to joining Standard Chartered, he worked for two years at IDEAglobal in New York, where he built and managed the Latin America Strategy team, which included fixed-income strategists, currency strategists, and economists. From 1998 to 2000, Doug worked at the US Treasury as senior international economist for Latin America. He was a close advisor to Treasury Secretary Robert Rubin and then Secretary Larry Summers on the Brazil financial crisis, financial market contagion, and the IMF response. Doug holds a PhD in Economics from Columbia University with specializations in international macroeconomics and econometrics. He actively participates in activities of the Council on Foreign Relations, Council of the Americas as well as the Asia Society, at which he has spoken on expert panels. He is published in the Journal of Development Economics, is widely known as an expert on Brazilian financial markets and has commentated on programs such as Lou Dobbs, CNN, Bloomberg, and CNBC. Advertorial

Latin Finance - November/December 2009

Table of Contents for the Digital Edition of Latin Finance - November/December 2009

Latin Finance - November/December 2009
Contents
Latam-China Flows
Petrobras Interview
Best Boutiques
Banks of the Year 2009
Itau Unibanco Interview
Mexico: How to Capitalize on Crisis
Colombia: Local Shop Repels Foreign Pretenders
Chile: Pefecting the Art of Retail
El Salvador: A Foreign-owned Bank Dominates
Infrastructure & Energy Awards
Private Equity Fundraising
Latin Finance - November/December 2009 - Latin Finance - November/December 2009
Latin Finance - November/December 2009 - Cover2
Latin Finance - November/December 2009 - Contents
Latin Finance - November/December 2009 - 2
Latin Finance - November/December 2009 - 3
Latin Finance - November/December 2009 - 4
Latin Finance - November/December 2009 - 5
Latin Finance - November/December 2009 - 6
Latin Finance - November/December 2009 - 7
Latin Finance - November/December 2009 - 8
Latin Finance - November/December 2009 - 9
Latin Finance - November/December 2009 - 10
Latin Finance - November/December 2009 - 11
Latin Finance - November/December 2009 - 12
Latin Finance - November/December 2009 - 13
Latin Finance - November/December 2009 - 14
Latin Finance - November/December 2009 - 15
Latin Finance - November/December 2009 - 16
Latin Finance - November/December 2009 - 17
Latin Finance - November/December 2009 - Latam-China Flows
Latin Finance - November/December 2009 - 19
Latin Finance - November/December 2009 - 20
Latin Finance - November/December 2009 - 21
Latin Finance - November/December 2009 - 22
Latin Finance - November/December 2009 - 23
Latin Finance - November/December 2009 - Petrobras Interview
Latin Finance - November/December 2009 - 25
Latin Finance - November/December 2009 - 26
Latin Finance - November/December 2009 - 27
Latin Finance - November/December 2009 - Best Boutiques
Latin Finance - November/December 2009 - 29
Latin Finance - November/December 2009 - 30
Latin Finance - November/December 2009 - 31
Latin Finance - November/December 2009 - Banks of the Year 2009
Latin Finance - November/December 2009 - 33
Latin Finance - November/December 2009 - 34
Latin Finance - November/December 2009 - Mexico: How to Capitalize on Crisis
Latin Finance - November/December 2009 - 36
Latin Finance - November/December 2009 - 37
Latin Finance - November/December 2009 - 38
Latin Finance - November/December 2009 - Colombia: Local Shop Repels Foreign Pretenders
Latin Finance - November/December 2009 - Chile: Pefecting the Art of Retail
Latin Finance - November/December 2009 - 41
Latin Finance - November/December 2009 - 42
Latin Finance - November/December 2009 - El Salvador: A Foreign-owned Bank Dominates
Latin Finance - November/December 2009 - 44
Latin Finance - November/December 2009 - 45
Latin Finance - November/December 2009 - 46
Latin Finance - November/December 2009 - 47
Latin Finance - November/December 2009 - 48
Latin Finance - November/December 2009 - 49
Latin Finance - November/December 2009 - Infrastructure & Energy Awards
Latin Finance - November/December 2009 - 51
Latin Finance - November/December 2009 - 52
Latin Finance - November/December 2009 - 53
Latin Finance - November/December 2009 - 54
Latin Finance - November/December 2009 - Private Equity Fundraising
Latin Finance - November/December 2009 - 56
Latin Finance - November/December 2009 - Cover3
Latin Finance - November/December 2009 - Cover4
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