I lived and worked in Latin America for 14 years before coming to China, so I watch this subject closely. Economic ties between China and Latin America are soaring.
They appear to have new momentum after a trip this month by Wu Bangguo, the No. 2 leader in the Communist Party hierarchy, to South America. Wu visited Brazil, Uruguay and Chile. During his travels, he signed various accords on building aircraft, and enhancing telecommunications and hydroelectric investment.
According to the Business Times newspaper, the bilateral trade volume between China and Latin American countries has jumped to $50.5 billion in 2005 from $8.3 billion in 1999. That’s even more than China’s much vaunted trade with Africa.
The newspaper cites a recent report of the Commerce Department of China saying Latin America has surpassed Asia as the biggest investment destination for Chinese companies.
It’s not just trade relations. This month also saw visits by senior military commanders of Peru and Uruguay to China. Top generals of the People’s Liberation Army received both delegations.
In Peru’s case, air force commander Felipe Conde said after his visit to Beijing that Peru would strengthen exchanges with the Chinese military. Days later, the Uruguayan army and naval chiefs arrived for a briefing on China’s military modernization, Xinhua reported.
It seems that China is out-manoeuvring the US in its own backyard.
Posted by: Xiao Zhu | September 26, 2006 at 03:07 AM