ECONOMY

13

Experts’ predictions of an imminent hell

in the world’s economy and markets

currently follow the uncertainty

unleashed by the generalized fall of the

stock exchange and raw materials in the

last few weeks.

Three successive devaluations of the

yuan, the Chinese currency, is added to

these predictions made by prominent

specialists publicized on the Infowars

website, according to which in due

course will exploit a World financial crisis

in epic proportions which will bring

Europe, Japan and the United States to

their knees. Due to this crisis, the planet

will be left with serious consequences

during the following five years.

The biggest collapse of the Chinese

stock market from 2007 provoked a

wave of contractions on Monday August

24, named Black Monday in the markets

throughout the world whilst the price of

oil has again marked its lowest level.

Again the effect dominated, wreaking

havoc from which a sustained recovery

is still not taking place in response to

the growth nor to the stock-exchange

values, therefore the big pillars in the

World’s economy are in decline.

What is certain is that the economic

deceleration of China is shaking the rest

of the financial and productive scene on

the planet which the emerging countries

being not too far away and of course

Latin America and the Caribbean too.

For a few years the region has felt

the impact of the Chinese deceleration

therefore the Economic Commission for

Latin America and the Caribbean (CEPA

in Spanish) showed in their most recent

prediction that it would only grow by

0.5% this year, and they cited the fall of

the prices of raw materials due to one

of the main causes being the slowing

down of the Asian giant.

Such an impact is already felt in the

large producers of raw materials in the

region, for example in Venezuela with

the oil and in Chile with the copper (they

export 47% of what they produce to

Beijing).

The impact of the devaluation of the

yuan is not insignificant either in the

Latin American currencies, leaving the

Brazilian Real to fall below 1% while the

Chilean Peso has suffered an even more

noticeable setback in 12 years.

Generally, the economists warn us that

there will be countries affected, above all

those that sell raw materials who export

them to China: Brazil, Chile, Columbia,

Argentina, Venezuela and Peru.

In Kamel Mellahi’s opinion, a

specialist in emerging markets from

Warwick Business School in the United

Kingdom, it will be fundamental to see

every economy’s ability to react and how

they substitute the fall in raw materials.

There are countries like Mexico that can

replace the Chinese Market with that of

the United States.

Faced with the chaos which reigns in

the international markets in an attempt

to improve the exchange course, the

Latin American governments can resort

to the devaluation of the national

currencies, something which will make

them more competitive.

For Liu Baocheng, the director of

the Center for International Business

Ethics in China, escaping the present

world situation requires a consensus of

decisions that can have an important

impact on the global financial market

and raw materials.

‘If a world consensus is put together,

we will see the structural changes that

can lead the main economies of the

World down the right path’, he said.

In his opinion, Beijing only takes

some of the blame for the present

crisis and China is capable of playing

the central role in the recovery of the

world economy.

Imminent Return to a World Economic Collapse

By Cira

RODRÍGUEZ

PHOTO:

Apimages

PHOTO:

Courtesy of radiohc.

HAVANA.

- A dozen enterprises of Belgium and

Luxemburg met with their Cuban peers to explore

commercial, collaboration and investment

opportunities now open to foreign capital in Cuba.

Headed by Omar Fernandez, Secretary General of

the Cuban Chamber of Commerce and the President

of the Belgian-Luxembourg Chamber of Commerce

(CBL), Guy Bultynck, the business forum included

presentations from both parties and bilateral meetings

between Cuban and Belgian businesspeople.

Guy Bultynck recalled the Belgian presence in

Cuba for centuries, and mentioned the Belgian artisan

Charles Fabre, who designed the paving stones that

cover some of Old Havana streets, but the time has

come to do much more, he said.

Seven Senses Group is a holding company that

never did business with Cuba, but is now interested

to undertake a very concrete project, building a great

hotel compound of over 100 hectares with suites,

villas, spa, sports complex with a golf course and a

medical center of world class.

Other international companies like BICS that

deals in voice, courier and connectivity services,

Commerzbank which is ready to financially support

Belgian interests in the Cuban market, Cypress

Diagnostics which is looking for Cuban associates to

introduce their products, appreciated in laboratories

of over 100 countries worldwide.

Dredging International is a company specializing

in dredging bays, soils and hydraulic engineering,

with experience in over 90 countries. It has already

identified Cuban firms such as the Empresa

Constructora de ObrasMaritimas, which could be

interested in a joint product of this kind.

Others like PackoInox propose solutions in

stainless Steel and Ses Satellites, a world leading

operator in satellite communications. They own and

operate a fleet of 53 geostationary satellites. They

want to do business with the state entity in charge of

access to the Internet.

Guy Bultynck recommended business men

and women accompanying him to be patient and

persistent and increase presence of companies from

Belgium and Luxembourg in this country that has a

privileged geographic position that can introduce

these companies to the Latin American market.

Omar Fernández, Secretary General of the Cuban

Chamber of Commerce, called both parts to identify

existing potentialities in their respective markets that

have not been exploited adequately until now, and

thus diversify our trade links.

As it was informed, Belgium occupies the sixth

place among the main commercial partners of Cuba

in Europe and the fifteenth worldwide.

From Belgium, Cuba imports powdered milk,

lubricants and other chemicals and exports petroleum

derivatives, coffee, and honey.

Belgian Companies Explore Up Close Cuban Market

By Elsy

FORS

ECONOMY

13

Experts’ predictions of an imminent hell

in the world’s economy and markets

currently follow the uncertainty

unleashed by the generalized fall of the

stock exchange and raw materials in the

last few weeks.

Three successive devaluations of the

yuan, the Chinese currency, is added to

these predictions made by prominent

specialists publicized on the Infowars

website, according to which in due

course will exploit a World financial crisis

in epic proportions which will bring

Europe, Japan and the United States to

their knees. Due to this crisis, the planet

will be left with serious consequences

during the following five years.

The biggest collapse of the Chinese

stock market from 2007 provoked a

wave of contractions on Monday August

24, named Black Monday in the markets

throughout the world whilst the price of

oil has again marked its lowest level.

Again the effect dominated, wreaking

havoc from which a sustained recovery

is still not taking place in response to

the growth nor to the stock-exchange

values, therefore the big pillars in the

World’s economy are in decline.

What is certain is that the economic

deceleration of China is shaking the rest

of the financial and productive scene on

the planet which the emerging countries

being not too far away and of course

Latin America and the Caribbean too.

For a few years the region has felt

the impact of the Chinese deceleration

therefore the Economic Commission for

Latin America and the Caribbean (CEPA

in Spanish) showed in their most recent

prediction that it would only grow by

0.5% this year, and they cited the fall of

the prices of raw materials due to one

of the main causes being the slowing

down of the Asian giant.

Such an impact is already felt in the

large producers of raw materials in the

region, for example in Venezuela with

the oil and in Chile with the copper (they

export 47% of what they produce to

Beijing).

The impact of the devaluation of the

yuan is not insignificant either in the

Latin American currencies, leaving the

Brazilian Real to fall below 1% while the

Chilean Peso has suffered an even more

noticeable setback in 12 years.

Generally, the economists warn us that

there will be countries affected, above all

those that sell raw materials who export

them to China: Brazil, Chile, Columbia,

Argentina, Venezuela and Peru.

In Kamel Mellahi’s opinion, a

specialist in emerging markets from

Warwick Business School in the United

Kingdom, it will be fundamental to see

every economy’s ability to react and how

they substitute the fall in raw materials.

There are countries like Mexico that can

replace the Chinese Market with that of

the United States.

Faced with the chaos which reigns in

the international markets in an attempt

to improve the exchange course, the

Latin American governments can resort

to the devaluation of the national

currencies, something which will make

them more competitive.

For Liu Baocheng, the director of

the Center for International Business

Ethics in China, escaping the present

world situation requires a consensus of

decisions that can have an important

impact on the global financial market

and raw materials.

‘If a world consensus is put together,

we will see the structural changes that

can lead the main economies of the

World down the right path’, he said.

In his opinion, Beijing only takes

some of the blame for the present

crisis and China is capable of playing

the central role in the recovery of the

world economy.

Imminent Return to a World Economic Collapse

By Cira

RODRÍGUEZ

PHOTO:

Apimages

PHOTO:

Courtesy of radiohc.

HAVANA.

- A dozen enterprises of Belgium and

Luxemburg met with their Cuban peers to explore

commercial, collaboration and investment

opportunities now open to foreign capital in Cuba.

Headed by Omar Fernandez, Secretary General of

the Cuban Chamber of Commerce and the President

of the Belgian-Luxembourg Chamber of Commerce

(CBL), Guy Bultynck, the business forum included

presentations from both parties and bilateral meetings

between Cuban and Belgian businesspeople.

Guy Bultynck recalled the Belgian presence in

Cuba for centuries, and mentioned the Belgian artisan

Charles Fabre, who designed the paving stones that

cover some of Old Havana streets, but the time has

come to do much more, he said.

Seven Senses Group is a holding company that

never did business with Cuba, but is now interested

to undertake a very concrete project, building a great

hotel compound of over 100 hectares with suites,

villas, spa, sports complex with a golf course and a

medical center of world class.

Other international companies like BICS that

deals in voice, courier and connectivity services,

Commerzbank which is ready to financially support

Belgian interests in the Cuban market, Cypress

Diagnostics which is looking for Cuban associates to

introduce their products, appreciated in laboratories

of over 100 countries worldwide.

Dredging International is a company specializing

in dredging bays, soils and hydraulic engineering,

with experience in over 90 countries. It has already

identified Cuban firms such as the Empresa

Constructora de ObrasMaritimas, which could be

interested in a joint product of this kind.

Others like PackoInox propose solutions in

stainless Steel and Ses Satellites, a world leading

operator in satellite communications. They own and

operate a fleet of 53 geostationary satellites. They

want to do business with the state entity in charge of

access to the Internet.

Guy Bultynck recommended business men

and women accompanying him to be patient and

persistent and increase presence of companies from

Belgium and Luxembourg in this country that has a

privileged geographic position that can introduce

these companies to the Latin American market.

Omar Fernández, Secretary General of the Cuban

Chamber of Commerce, called both parts to identify

existing potentialities in their respective markets that

have not been exploited adequately until now, and

thus diversify our trade links.

As it was informed, Belgium occupies the sixth

place among the main commercial partners of Cuba

in Europe and the fifteenth worldwide.

From Belgium, Cuba imports powdered milk,

lubricants and other chemicals and exports petroleum

derivatives, coffee, and honey.

Belgian Companies Explore Up Close Cuban Market

By Elsy

FORS

ECONOMY

13

Experts’ predictions of an imminent hell

in the world’s economy and markets

currently follow the uncertainty

unleashed by the generalized fall of the

stock exchange and raw materials in the

last few weeks.

Three successive devaluations of the

yuan, the Chinese currency, is added to

these predictions made by prominent

specialists publicized on the Infowars

website, according to which in due

course will exploit a World financial crisis

in epic proportions which will bring

Europe, Japan and the United States to

their knees. Due to this crisis, the planet

will be left with serious consequences

during the following five years.

The biggest collapse of the Chinese

stock market from 2007 provoked a

wave of contractions on Monday August

24, named Black Monday in the markets

throughout the world whilst the price of

oil has again marked its lowest level.

Again the effect dominated, wreaking

havoc from which a sustained recovery

is still not taking place in response to

the growth nor to the stock-exchange

values, therefore the big pillars in the

World’s economy are in decline.

What is certain is that the economic

deceleration of China is shaking the rest

of the financial and productive scene on

the planet which the emerging countries

being not too far away and of course

Latin America and the Caribbean too.

For a few years the region has felt

the impact of the Chinese deceleration

therefore the Economic Commission for

Latin America and the Caribbean (CEPA

in Spanish) showed in their most recent

prediction that it would only grow by

0.5% this year, and they cited the fall of

the prices of raw materials due to one

of the main causes being the slowing

down of the Asian giant.

Such an impact is already felt in the

large producers of raw materials in the

region, for example in Venezuela with

the oil and in Chile with the copper (they

export 47% of what they produce to

Beijing).

The impact of the devaluation of the

yuan is not insignificant either in the

Latin American currencies, leaving the

Brazilian Real to fall below 1% while the

Chilean Peso has suffered an even more

noticeable setback in 12 years.

Generally, the economists warn us that

there will be countries affected, above all

those that sell raw materials who export

them to China: Brazil, Chile, Columbia,

Argentina, Venezuela and Peru.

In Kamel Mellahi’s opinion, a

specialist in emerging markets from

Warwick Business School in the United

Kingdom, it will be fundamental to see

every economy’s ability to react and how

they substitute the fall in raw materials.

There are countries like Mexico that can

replace the Chinese Market with that of

the United States.

Faced with the chaos which reigns in

the international markets in an attempt

to improve the exchange course, the

Latin American governments can resort

to the devaluation of the national

currencies, something which will make

them more competitive.

For Liu Baocheng, the director of

the Center for International Business

Ethics in China, escaping the present

world situation requires a consensus of

decisions that can have an important

impact on the global financial market

and raw materials.

‘If a world consensus is put together,

we will see the structural changes that

can lead the main economies of the

World down the right path’, he said.

In his opinion, Beijing only takes

some of the blame for the present

crisis and China is capable of playing

the central role in the recovery of the

world economy.

Imminent Return to a World Economic Collapse

By Cira

RODRÍGUEZ

PHOTO:

Apimages

PHOTO:

Courtesy of radiohc.

HAVANA.

- A dozen enterprises of Belgium and

Luxemburg met with their Cuban peers to explore

commercial, collaboration and investment

opportunities now open to foreign capital in Cuba.

Headed by Omar Fernandez, Secretary General of

the Cuban Chamber of Commerce and the President

of the Belgian-Luxembourg Chamber of Commerce

(CBL), Guy Bultynck, the business forum included

presentations from both parties and bilateral meetings

between Cuban and Belgian businesspeople.

Guy Bultynck recalled the Belgian presence in

Cuba for centuries, and mentioned the Belgian artisan

Charles Fabre, who designed the paving stones that

cover some of Old Havana streets, but the time has

come to do much more, he said.

Seven Senses Group is a holding company that

never did business with Cuba, but is now interested

to undertake a very concrete project, building a great

hotel compound of over 100 hectares with suites,

villas, spa, sports complex with a golf course and a

medical center of world class.

Other international companies like BICS that

deals in voice, courier and connectivity services,

Commerzbank which is ready to financially support

Belgian interests in the Cuban market, Cypress

Diagnostics which is looking for Cuban associates to

introduce their products, appreciated in laboratories

of over 100 countries worldwide.

Dredging International is a company specializing

in dredging bays, soils and hydraulic engineering,

with experience in over 90 countries. It has already

identified Cuban firms such as the Empresa

Constructora de ObrasMaritimas, which could be

interested in a joint product of this kind.

Others like PackoInox propose solutions in

stainless Steel and Ses Satellites, a world leading

operator in satellite communications. They own and

operate a fleet of 53 geostationary satellites. They

want to do business with the state entity in charge of

access to the Internet.

Guy Bultynck recommended business men

and women accompanying him to be patient and

persistent and increase presence of companies from

Belgium and Luxembourg in this country that has a

privileged geographic position that can introduce

these companies to the Latin American market.

Omar Fernández, Secretary General of the Cuban

Chamber of Commerce, called both parts to identify

existing potentialities in their respective markets that

have not been exploited adequately until now, and

thus diversify our trade links.

As it was informed, Belgium occupies the sixth

place among the main commercial partners of Cuba

in Europe and the fifteenth worldwide.

From Belgium, Cuba imports powdered milk,

lubricants and other chemicals and exports petroleum

derivatives, coffee, and honey.

Belgian Companies Explore Up Close Cuban Market

By Elsy

FORS

Show your support

Clapping shows how much you appreciated Prensa Latina’s story.