First modification:
While trade between China and Latin America and the Caribbean grows at historic levels, experts analyze the risks of the commitments that several nations have assumed in exchange for investment and foreign cooperation.
A relationship in sync. In 2021, the total value of trade between China and Latin America and the Caribbean increased by 41.1% compared to 2020, registering a new record in transactions, worth 451,591 million dollars, according to official data from China.
Neither the pandemic nor the global crisis in the supply chain could stop this exponential growth between the Asian country and Latin America, which is why several analysts point out that, from the region, “they see China as a source of opportunities that other countries do not offer”.
During the forum ‘Where are relations between China and the US heading in LATAM?’, organized by the Foundation for Analysis and Social Studies, FAES, Juan Pablo Cardenal, an expert in politics and economics of the Asian country, warned that in the region “the political and economic elites can see China as proof that development and prosperity without democracy is possible”.
China is currently the second most important trading partner for the region. In 2021, Latin American exports to China reached some 222,582 million dollars, which represents an increase of 31.4% compared to the previous year.
While Chinese exports to Latin America were valued at 229,009 million dollars, an increase of 52% over the previous year, according to the Chinese customs office.
Globally, trade in goods and services reached an all-time high of $28.5 trillion in 2021, a 25% year-on-year increase that was also 13% higher than in 2019, the year before the pandemic.
According to the UN Agency for Trade and Development, UNCTAD, the 43% rise in Chinese exports with respect to pre-pandemic numbers is notable, while economies such as the United States, the European Union and Japan, showed more modest numbers, between 6% and 12%.
“China has developed a network of commercial and political contacts in the area. It is a very decentralized approach that allows them to support many countries with resources and technical assistance,” Margaret Myers, director of the Dialogue’s Asia and Latin America program, said during the event. Interamerican.
For Pepe Zhang, associate director and senior analyst at ‘The Atlantic Council’, currently “we live in an ideological world. China is more willing to cross the ideological line and cooperate with all countries, hence it has more influence, while the United States The United States is more limited in this regard.”
Belt and Road Initiative
For Alejandro Godoy, a specialist in Asia and the Middle East, the initiative that emulates the old Silk Road is an ambitious project in which the countries that are part of it must take with caution the concessions that are granted and the economic imbalances that it may generate. .
“It is a supremely ambitious project because it runs until the year 2049, it has an approximate cost of 900,000 million dollars and the expectations with Latin America are to alienate the nations that still recognize Taiwan,” says the expert.
Godoy adds that “the best thing would be for Latin America to manage to balance this relationship with China and see the opportunities that the European Union could offer.”
“As we saw in Africa, several of these new Silk Road projects have generated large trade deficits, because states end up not having the capacity to take on these debts and over time China takes possession of these works,” he says. Godoy.
“Several Latin American countries have signed memorandums of understanding in a project that today has more than 140 countries that have joined the initiative, therefore, it is with great caution that action should be taken,” the expert concluded.
Recently, Argentina became the 20th country in the region to join the China Strip initiative. The South American country will celebrate 50 years of diplomatic relations with China in the midst of a deep economic crisis and the renegotiation of its debt of more than 40,000 million dollars with the International Monetary Fund.
First modification:
While trade between China and Latin America and the Caribbean grows at historic levels, experts analyze the risks of the commitments that several nations have assumed in exchange for investment and foreign cooperation.
A relationship in sync. In 2021, the total value of trade between China and Latin America and the Caribbean increased by 41.1% compared to 2020, registering a new record in transactions, worth 451,591 million dollars, according to official data from China.
Neither the pandemic nor the global crisis in the supply chain could stop this exponential growth between the Asian country and Latin America, which is why several analysts point out that, from the region, “they see China as a source of opportunities that other countries do not offer”.
During the forum ‘Where are relations between China and the US heading in LATAM?’, organized by the Foundation for Analysis and Social Studies, FAES, Juan Pablo Cardenal, an expert in politics and economics of the Asian country, warned that in the region “the political and economic elites can see China as proof that development and prosperity without democracy is possible”.
China is currently the second most important trading partner for the region. In 2021, Latin American exports to China reached some 222,582 million dollars, which represents an increase of 31.4% compared to the previous year.
While Chinese exports to Latin America were valued at 229,009 million dollars, an increase of 52% over the previous year, according to the Chinese customs office.
Globally, trade in goods and services reached an all-time high of $28.5 trillion in 2021, a 25% year-on-year increase that was also 13% higher than in 2019, the year before the pandemic.
According to the UN Agency for Trade and Development, UNCTAD, the 43% rise in Chinese exports with respect to pre-pandemic numbers is notable, while economies such as the United States, the European Union and Japan, showed more modest numbers, between 6% and 12%.
“China has developed a network of commercial and political contacts in the area. It is a very decentralized approach that allows them to support many countries with resources and technical assistance,” Margaret Myers, director of the Dialogue’s Asia and Latin America program, said during the event. Interamerican.
For Pepe Zhang, associate director and senior analyst at ‘The Atlantic Council’, currently “we live in an ideological world. China is more willing to cross the ideological line and cooperate with all countries, hence it has more influence, while the United States The United States is more limited in this regard.”
Belt and Road Initiative
For Alejandro Godoy, a specialist in Asia and the Middle East, the initiative that emulates the old Silk Road is an ambitious project in which the countries that are part of it must take with caution the concessions that are granted and the economic imbalances that it may generate. .
“It is a supremely ambitious project because it runs until the year 2049, it has an approximate cost of 900,000 million dollars and the expectations with Latin America are to alienate the nations that still recognize Taiwan,” says the expert.
Godoy adds that “the best thing would be for Latin America to manage to balance this relationship with China and see the opportunities that the European Union could offer.”
“As we saw in Africa, several of these new Silk Road projects have generated large trade deficits, because states end up not having the capacity to take on these debts and over time China takes possession of these works,” he says. Godoy.
“Several Latin American countries have signed memorandums of understanding in a project that today has more than 140 countries that have joined the initiative, therefore, it is with great caution that action should be taken,” the expert concluded.
Recently, Argentina became the 20th country in the region to join the China Strip initiative. The South American country will celebrate 50 years of diplomatic relations with China in the midst of a deep economic crisis and the renegotiation of its debt of more than 40,000 million dollars with the International Monetary Fund.
First modification:
While trade between China and Latin America and the Caribbean grows at historic levels, experts analyze the risks of the commitments that several nations have assumed in exchange for investment and foreign cooperation.
A relationship in sync. In 2021, the total value of trade between China and Latin America and the Caribbean increased by 41.1% compared to 2020, registering a new record in transactions, worth 451,591 million dollars, according to official data from China.
Neither the pandemic nor the global crisis in the supply chain could stop this exponential growth between the Asian country and Latin America, which is why several analysts point out that, from the region, “they see China as a source of opportunities that other countries do not offer”.
During the forum ‘Where are relations between China and the US heading in LATAM?’, organized by the Foundation for Analysis and Social Studies, FAES, Juan Pablo Cardenal, an expert in politics and economics of the Asian country, warned that in the region “the political and economic elites can see China as proof that development and prosperity without democracy is possible”.
China is currently the second most important trading partner for the region. In 2021, Latin American exports to China reached some 222,582 million dollars, which represents an increase of 31.4% compared to the previous year.
While Chinese exports to Latin America were valued at 229,009 million dollars, an increase of 52% over the previous year, according to the Chinese customs office.
Globally, trade in goods and services reached an all-time high of $28.5 trillion in 2021, a 25% year-on-year increase that was also 13% higher than in 2019, the year before the pandemic.
According to the UN Agency for Trade and Development, UNCTAD, the 43% rise in Chinese exports with respect to pre-pandemic numbers is notable, while economies such as the United States, the European Union and Japan, showed more modest numbers, between 6% and 12%.
“China has developed a network of commercial and political contacts in the area. It is a very decentralized approach that allows them to support many countries with resources and technical assistance,” Margaret Myers, director of the Dialogue’s Asia and Latin America program, said during the event. Interamerican.
For Pepe Zhang, associate director and senior analyst at ‘The Atlantic Council’, currently “we live in an ideological world. China is more willing to cross the ideological line and cooperate with all countries, hence it has more influence, while the United States The United States is more limited in this regard.”
Belt and Road Initiative
For Alejandro Godoy, a specialist in Asia and the Middle East, the initiative that emulates the old Silk Road is an ambitious project in which the countries that are part of it must take with caution the concessions that are granted and the economic imbalances that it may generate. .
“It is a supremely ambitious project because it runs until the year 2049, it has an approximate cost of 900,000 million dollars and the expectations with Latin America are to alienate the nations that still recognize Taiwan,” says the expert.
Godoy adds that “the best thing would be for Latin America to manage to balance this relationship with China and see the opportunities that the European Union could offer.”
“As we saw in Africa, several of these new Silk Road projects have generated large trade deficits, because states end up not having the capacity to take on these debts and over time China takes possession of these works,” he says. Godoy.
“Several Latin American countries have signed memorandums of understanding in a project that today has more than 140 countries that have joined the initiative, therefore, it is with great caution that action should be taken,” the expert concluded.
Recently, Argentina became the 20th country in the region to join the China Strip initiative. The South American country will celebrate 50 years of diplomatic relations with China in the midst of a deep economic crisis and the renegotiation of its debt of more than 40,000 million dollars with the International Monetary Fund.
First modification:
While trade between China and Latin America and the Caribbean grows at historic levels, experts analyze the risks of the commitments that several nations have assumed in exchange for investment and foreign cooperation.
A relationship in sync. In 2021, the total value of trade between China and Latin America and the Caribbean increased by 41.1% compared to 2020, registering a new record in transactions, worth 451,591 million dollars, according to official data from China.
Neither the pandemic nor the global crisis in the supply chain could stop this exponential growth between the Asian country and Latin America, which is why several analysts point out that, from the region, “they see China as a source of opportunities that other countries do not offer”.
During the forum ‘Where are relations between China and the US heading in LATAM?’, organized by the Foundation for Analysis and Social Studies, FAES, Juan Pablo Cardenal, an expert in politics and economics of the Asian country, warned that in the region “the political and economic elites can see China as proof that development and prosperity without democracy is possible”.
China is currently the second most important trading partner for the region. In 2021, Latin American exports to China reached some 222,582 million dollars, which represents an increase of 31.4% compared to the previous year.
While Chinese exports to Latin America were valued at 229,009 million dollars, an increase of 52% over the previous year, according to the Chinese customs office.
Globally, trade in goods and services reached an all-time high of $28.5 trillion in 2021, a 25% year-on-year increase that was also 13% higher than in 2019, the year before the pandemic.
According to the UN Agency for Trade and Development, UNCTAD, the 43% rise in Chinese exports with respect to pre-pandemic numbers is notable, while economies such as the United States, the European Union and Japan, showed more modest numbers, between 6% and 12%.
“China has developed a network of commercial and political contacts in the area. It is a very decentralized approach that allows them to support many countries with resources and technical assistance,” Margaret Myers, director of the Dialogue’s Asia and Latin America program, said during the event. Interamerican.
For Pepe Zhang, associate director and senior analyst at ‘The Atlantic Council’, currently “we live in an ideological world. China is more willing to cross the ideological line and cooperate with all countries, hence it has more influence, while the United States The United States is more limited in this regard.”
Belt and Road Initiative
For Alejandro Godoy, a specialist in Asia and the Middle East, the initiative that emulates the old Silk Road is an ambitious project in which the countries that are part of it must take with caution the concessions that are granted and the economic imbalances that it may generate. .
“It is a supremely ambitious project because it runs until the year 2049, it has an approximate cost of 900,000 million dollars and the expectations with Latin America are to alienate the nations that still recognize Taiwan,” says the expert.
Godoy adds that “the best thing would be for Latin America to manage to balance this relationship with China and see the opportunities that the European Union could offer.”
“As we saw in Africa, several of these new Silk Road projects have generated large trade deficits, because states end up not having the capacity to take on these debts and over time China takes possession of these works,” he says. Godoy.
“Several Latin American countries have signed memorandums of understanding in a project that today has more than 140 countries that have joined the initiative, therefore, it is with great caution that action should be taken,” the expert concluded.
Recently, Argentina became the 20th country in the region to join the China Strip initiative. The South American country will celebrate 50 years of diplomatic relations with China in the midst of a deep economic crisis and the renegotiation of its debt of more than 40,000 million dollars with the International Monetary Fund.