Latin American Economy & Business - October 2016 (ISSN 1741-7430)

A number of Paraguayan officials have begun talking of Paraguay as a country that can pursue a ‘Little China’ strategy within Latin America. The aim is to diversify an agriculture-based economy, and develop competitive industrial assembly plants known as máquilas in border areas. In the short term at least, the economy is looking resilient, with Central Bank President Carlos Fernández Valdovinos lifting the real annual GDP growth forecast for this year to 4.0%, up from 3.5% previously.