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China and Asia-Pacific in the World Economy: Trends and Opportunities for Peru

Santa Gadea, R. (2020). China and Asia-Pacific in the World Economy: Trends and Opportunities for Peru. Working Papers of the Center for China and Asia-Pacific Studies at Universidad del Pacífico, N° 1. https://cechap.up.edu.pe/wp-content/uploads/WP-China-and-Asia-Pacific-in-the-World-Economy_ENG_Final-1.pdf

China and Asia-Pacific in the World Economy: Trends and Opportunities for Peru

In 2021, Peru celebrates the bicentennial of its independence and also the 50th anniversary of the establishment of diplomatic relations with the People’s Republic of China. Therefore, it is a timely occasion to reflect about what the agenda for Peru-China relations in the next decades should be, as well as to identify the Peruvian priorities in Asia-Pacific. Both questions are interconnected due to the central role of China in the context of the Peruvian insertion in that region. To contribute to this strategic planning, this study seeks to provide insights on the transformation of the Chinese economy and the trends for its future, as well as its international economic strategy. Furthermore, it also offers a comparative analysis between Peru and the economies of Asia and Oceania in the Pacific basin which are members of APEC, based on various indicators of competitiveness and productivity. This comparison aims at providing insights to enrich the bilateral agenda of Peru with China and Asia-Pacific in a way that contributes to structural changes in Peru. Finally, this study explores how China and Asia-Pacific are considered in the Peruvian national strategic planning. It shows an important weakness: the lack of a clearly defined vision for the country’s insertion in the global economy, an issue which is reflected into the Peruvian economic projection towards China and Asia-Pacific. Therefore, it is necessary to define this vision for the country’s insertion in the global economy and measures to realize it. For that purpose, the conclusions and recommendations from this study could be useful in regards to China and Asia-Pacific economies.

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