The Impact Of Sino-Colombian International Trade On Colombia's Economic Development

In the last decades China has grown to the point of becoming a world-wide economy and it's now approaching Latin America in search for resources for its market and for its vast production.In this paper,not only the different ways in which China has approach Latin America,are studied but also how this Asian giant influenced the Colombian economy,an economy that has been for years dependent on the United States and European market.Foreign direct investment and trade data from different organizations and databanks was taken into consideration and added to the database and studied through statistical and descriptive analysis.International trade has made China one of the most important economic allies for Colombia.Some countries such as Chile that already have a free trade agreement(FTA)with China set the bases for reference and analysis for economies like Colombia which has learned to benefit from China but still has the weight of a historical deficit in balance of trade that carries both negative and positive effects on the Colombian economy.This impact encourages Colombia to look for ways of improving and expanding its basket of trade and consider tax liberations probably a free trade agreement.