Free Republic

The realities of global trade and politics are driving Asia's new economic powerhouse China and resources-rich Latin America closer, with Japan watching warily, according to researchers. China is searching for energy sources to feed its fast-expanding economy and for new markets to sell its goods manufactured at low production costs. For their part, Latin American countries are trying to diversify trading partners, shifting away from over-dependence on the United States which is aiming to create a huge Americas trading bloc to compete with Europe. The Inter-American Development Bank (IDB) called for closer links in trade and investment between Asia and...

Migrants living in the US, Europe and elsewhere around the world sent a record amount of remittances - some $45 billion - to Latin America and the Caribbean last year, according to the Inter-American Development Bank (IDB). The remittances - or money transfers - sent by Latin American and Caribbean workers living abroad rose nearly 20% over 2003, when $38 billion was sent home, the IDB said. About three-quarters of the remittances came from the US, while Europe was the second-largest source. Japan continued to be a major source of remittances to Brazil and Peru with foreign workers in Canada...