|Made in Colombia? Or just sucked out of |
Colombia's earth? Colombia's exports to the
U.S. and China are overwhelmingly
Decide for yourself whether Galeano and Co. are correct - (but only after also reading the Vargas Llosa family's take on the issue).
Now, however, Galeano should aim his rhetoric east, where China is repeating the Western nations' 'exploitative' methods.
|More than 90% of Colombia's |
exports to China are petrochemicals.
|From China, Colombia buys |
manufactured goods like cellphones.
Colombia's export mix to the U.S. isn't much healthier: 61% of those were petroleum and derivatives, and only 9.5% manufactured goods. And those statistics look great compared to 2012 because Colombia's petrochemical exports to the U.S. have plummeted recently as a result of the U.S. fracking boom.
And what does China export to Colombia? Think expensive, manufactured goods such as cars, TVs, laptops, clothing, shoes and even the traditional Colombian sombrero volteao.
In the mid-2000s, a report from Sergio Arboleda University in Bogotá warned that Colombia's "exports are concentrated in products of little added value." Since then, nothing has changed, as a 2012 paper by the Inter-American Dialogue pointed out: "trade with China remains unbalanced and overwhelmingly focused on commodities."
There are few examples of countries anywhere in the world which have built healthy economies by exporting raw materials, but many examples of nations which have destroyed their environments and fed corruption by relying on such exports.
Will Colombia somehow, magically be different? Let's hope so, since that's the track it's headed down.
Colombian exports to China: Raw materials.
|Colombian exports to China consist almost completely of raw materials. (Source: Cepal)|
Colombia has a large and growing trade deficit with China.
|Colombian imports much more from China (dark blue) than it exports to China (light blue). (Source: Cepal)|