Op-ed by José Cárdenas, China’s Great Leap Into Latin America, following China’s 20-year presence in our hemisphere,
The numbers are staggering. China joined the World Trade Organization in 2001, and its bilateral trade with Latin America and the Caribbean has since skyrocketed, from $15 billion in 2001 to $288.9 billion in 2013 — an increase of almost 2000 percent. That number now represents 6 percent of China’s total foreign trade, an increase from 2.7 percent in 2000. (Some 13 percent of Latin America’s trade is now done with China, up from negligible levels in 2000.)
In the past decade, China’s two biggest development banks have provided $125 billion to Latin America — more than the combined total lending of the World Bank and the Inter-American Development Bank.
This is only the beginning, folks, since China wants to “double bilateral trade and to increase investment stock value by 150 percent over the next decade.”
Background post from 2011:
CELAC: Chavez’s latest “alternative”