For Panama, China is a very important market because there we get most of the goods imported and re-exported in the Colon Free Zone, is also the number two partner Panama Canal.
This Monday, August 24, was «black» for the international stock markets. Both Wall Street in New York, United States, the major stock exchanges in Europe, Asia, Sydney, Australia; and several Latin American had a pretty rough day.
Even on Tuesday, the results were far from those of yesterday as red the results of the main stock exchanges dressed.
There was a lot of uncertainty because of the devaluation of the yuan of China -Coin which is quoted on Tuesday at $ 0.15 (4:00 pm), the impact was even at oil prices ended the day today at $ 39, its level lowest in six years.
For the Minister of Economy and Finance, Dulcidio De La Guardia, this could bring an effect because China is a strong trading partner. «We buy and sell to China, especially in the logistics, because they are one of our main users,» he explained the minister.
Furthermore, the effect that was in the bags such as Latin America, which could now cost more to buy in a dollarized country like Panama, so there would be a reduction.
But despite this uncertainty there not only in Panama but also in international markets, there are other effects that could be beneficial, at least in the short term.
For economists and Adolfo Quintero Rolando Gordon, the effect it could have on the devaluation of the Chinese yuan against the dollar they are bought can buy items at a lower cost.
«It would have a surplus of products and oversupply in the market, so the price may decrease,» said Quintero. He added that as Panama is handled with the dollar, and is now strong, purchases become cheaper in China, which could have an effect but to reverse level.
Gordon supports the fact that if the dollar continues to strengthen cost more to acquire Panamanian services, because then China would not mind large amount of matter as it does now.
«It would be less Chinese ships,» said Gordon.
In the same way he sees the consultant, Irene Gimenez Goethals Consulting, who points out that trade might decrease and the effect would be on Channel.
«It is possible that reassessed the dollar against other currencies, products and services in the country tend to be a little more expensive», supports the specialist.
Another aspect that would impact this effect is in international tourism, which could become more expensive, because as the dollar on local use, people would cost more come to Panama.
In this sense, Gimenez said the key in these times is that employers should be more competitive and boosting quality.
Gordon said meanwhile that with the drop in oil prices could be expected that the gas price decline in coming months due to this effect.
Ernesto Chong de León, Ernesto Emilio Chong Coronado
Categorizado en: News global
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