Quote of the day: commodities

“I think it’s great that Latin America has new export markets for its raw materials. But if Latin America simply sticks to exporting raw materials, they will be going back to the past.”

That was Arturo Valenzuela's response to Andres Oppenheimer's column on China's role in Latin America (which I criticized here).  Oppenheimer didn't really have any good counter-response because I don't think there is one.