{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='HONG KONG: WORLD BANK/IMF ANNUAL SUMMIT: LATIN AMERICAN  ISSUES' data-url='/boclips/videos/5c54baacd8eafeecae11f49e' data-video-url='/boclips/videos/5c54baacd8eafeecae11f49e' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nHONG KONG: WORLD BANK/IMF ANNUAL SUMMIT: LATIN AMERICAN  ISSUES\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eSpan/Eng/NatRepresentatives from Latin American expressed hope Wednesday that foreign investors in search of the next big growth region would turn their way.As Southeast Asia - once termed the modern economic miracle - grapples with...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eSpan/Eng/Nat\u003cbr/\u003eRepresentatives from Latin American expressed hope Wednesday that foreign investors in search of the next big growth region would turn their way.\u003cbr/\u003eAs Southeast Asia - once termed the modern economic miracle - grapples with currency turmoil and images of financial instability, Latin America has been staking out a claim as the future land of opportunity and growth.\u003cbr/\u003eInvestors at the World Bank/I-M-F (International Monetary Fund) annual meeting were offered a number of promises of high returns by countries like Mexico and Brazil.\u003cbr/\u003eWith Hong Kong hosting the event and a crisis occurring in the region, it is natural that Asia has had the lion's share of the attention during the conference.\u003cbr/\u003eBut Latin American countries have put in a huge effort to get big business to look their way.\u003cbr/\u003eGlossy books and magazines about the economic riches that lie on the other side of the Pacific can be found all around the meetings.\u003cbr/\u003eTrade delegations have invited investors and the press to check out what they have to offer.\u003cbr/\u003eBrazil's finance minister extolled the virtues of his nation and its efforts to establish a truly global economy.\u003cbr/\u003eSOUNDBITE: (English) \u003cbr/\u003e\"So we've been looking for all sorts of interactions in the trade realm, in the finance, foreign direct investment, technology and many other areas. So we're not a country which is turned to Latin America. Already we have internationalist outlook and a firm commitment to multilateral actions and not only the trade therefore we see inevitably the furthering of this process with Asian economies.\"\u003cbr/\u003eSUPER CAPTION: Pedro Malan, Brazilian Finance Minister\u003cbr/\u003eAlthough Brazil has signed on to several free trade agreements, it is not a member of APEC.\u003cbr/\u003eIts finance minister, Pedro Malan, says that some Asian countries have been anxious to sign on to the Latin American agreements but perhaps not as ready to open doors in the other direction.\u003cbr/\u003eSOUNDBITE (Portuguese):\u003cbr/\u003e\"The importance Brazil attributes to APEC is clear through the invitation that our president Fernando Enrique Cardoso has accepted to participate at the summit in Santiago, Chile, on September 30-October 1.  Various other Brazilian ministers will be present, and this demonstrates the increasing interest and interaction not only of Brazil but of the whole region for the APEC countries and other countries of the region.\"\u003cbr/\u003eSUPER CAPTION: Pedro Malan, Finance Minister, Brazil\u003cbr/\u003eAlso attending the meetings is Mexico's Finance Minister Guillermo Ortiz.\u003cbr/\u003eHis country faces stiff competition from other Latin American countries seeking foreign investment.\u003cbr/\u003eMexico enjoys a substantial amount of foreign investment which accounts for more than half for its overall investment.\u003cbr/\u003eHowever Ortiz said poverty still remains a concern for the country.\u003cbr/\u003eSOUNDBITE: (English) \u003cbr/\u003e\"The only way to reduce poverty and inequality moving forward is through strong economic growth. No country has been able to reduce inequality without growth.\"\u003cbr/\u003eSUPER CAPTION: Guillermo Ortiz, Mexican Finance Minister    \u003cbr/\u003eOther Latin American countries such as Brazil and Argentina have also received substantial foreign investment, but Mexico and Chile remain the only APEC members so far.\u003cbr/\u003eSOUNDBITE (Spanish):\u003cbr/\u003e\"The main problem is the poor and the poor distribution of wealth.  We feel that for having a better distribution of wealth and strengthening social programmes, we have to increase our economic growth.  We have to make an effort to make the distribution of wealth equal throughout the population.  If we want to achieve that, the economy needs to grow more quickly.\"\u003cbr/\u003eSUPER CAPTION: Guillermo Ortiz, Mexican Finance Minister\u003cbr/\u003eWith the Mexican government focused on poverty issues and welcoming foreign investment, reducing inequality and strong economic development will be at the top of their agenda.\u003cbr/\u003eHong Kong, China - September 24, 1997\u003cbr/\u003e1. Pan of poster of Rio\u003cbr/\u003e2. Cover of folder saying \"Brazil, The Real Plan for Success\"\u003cbr/\u003e3. Shot of magazines laid out\u003cbr/\u003e4. Mid-shot of conference table with people seated\u003cbr/\u003e5. Close-up of woman at conference table\u003cbr/\u003e6. SOUNDBITE: (English) Pedro Malan, Brazilian Finance Minister\u003cbr/\u003e7. Cutaway of people at conference table\u003cbr/\u003e8. SOUNDBITE: (Portuguese) Pedro Malan, Brazilian Finance Minister\u003cbr/\u003e9. Audience and panel\u003cbr/\u003e10. Woman in audience from behind\u003cbr/\u003e11. SOUNDBITE: (English) Guillermo Ortiz, Mexican Finance Minister\u003cbr/\u003e12. Audience and panel from side\u003cbr/\u003e13. SOUNDBITE: (Spanish) Guillermo Ortiz, Mexican Finance Minister\u003cbr/\u003e14. Pull shot from magazine about Chile\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1997\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003etrade, china, social issues, chile, brazil, poverty, south america, economic growth, international relations, personal finance, hong kong, asia, economy, business, east asia\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up 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