These developments will be driven by the less favourable international climate of the past five years, due to lower commodity prices (especially for metals and minerals), and the economic slowdown in the People’s Republic of China (hereafter "China”). Also of note is the rising cost of external financing and more restrained capital inflow prospects due to the tightening of US monetary policy. In 2014, the fastest growing economies in Latin America are expected to be the Plurinational State of Bolivia, Colombia, Costa Rica, Ecuador, Panama, Peru and the Dominican Republic, which will grow by between 4% and 7% according to projections. Much slower growth is projected for the region’s two biggest economies: Mexican growth will rebound to around 2.5% (similar to the figure for Chile) and Brazilian growth will be less than 1%.