China promises to invest $250 billion in Latin America

(Baonghean.vn) - On Thursday, January 8, Chinese President Xi Jinping announced that he would bring an investment worth 250 billion USD to Latin America and the Caribbean region within the next 10 years.

At a conference held in Beijing between China and the Community of Latin American and Caribbean States

Xi Jinping in Beijing on August 25, 2014. AP Photo/Diego Azubel

At the Great Hall of the People in Tiananmen Square, Beijing, President Xi Jinping declared that “China will concentrate its efforts on comprehensive cooperation with Latin American countries.” Xi Jinping’s statements once again demonstrate that China is ready to increase its influence in the region, which is traditionally considered the “backyard” of the United States.

The content of the discussion is to strengthen cooperation within the forum and this will be of great significance in increasing China's integration into the Latin American market in the next 5 years. The areas where China wishes to increase its investment include security, trade, finance, technology, energy resources, industry and agriculture.

Latin America also wants to build a foundation for a stronger relationship with China - one of the region's largest trading partners. And in return, Latin America is also a major source of energy and fuel for China. China mainly buys oil from Venezuela, copper from Chile, soybeans from Argentina and Brazil. According to statistics, China has invested billions of dollars in this region.

Previously, on January 7, Mr. Nicolas Maduro, President of Venezuela announced that China had promised to invest more than 20 billion USD in this country. Meanwhile, in Ecuador, President Rafael Correa said that the country also received 7.53 billion USD in loans and credit sources from China.

It is known that Latin America's cooperation with China takes place in the context that many countries in this region still maintain diplomatic relations with Taiwan. Currently, more than 22 countries still recognize Taiwan as a country, including 12 countries in the Latin American and Caribbean regions.

Chu Thanh

According to Le Monde 8/1