China's economic ascent reshapes Latin America's alliances
Latin American media has already acknowledged China's economic challenge to the United States, previously Latin America's leading partner. China is challenging the US hegemony in the region, which has lasted for roughly two decades.
In November last year, Xi Jinping travelled to South America to officially open the seaport in Chancay, Peru, constructed as part of China's Belt and Road Initiative. The cost of this investment was approximately £2.4 billion.
Latin American media consider this trip the beginning of China's establishment of a strong position in this region. Xi met with leaders from Mexico, Brazil, Bolivia, Chile, and Argentina. He emphasised his desire to strengthen economic ties with South America.
According to Latin American media, China has assumed the leading economic partner of the Latin American economy and is competing here with the United States. They challenge the long-standing US influence in Latin America, which has lasted about two decades. In at least six countries - Panama, Peru, Chile, Uruguay, Brazil, and Bolivia - China has been building its position slowly but effectively.
Expert: Trump made a cardinal error
During the first month of his administration, as noted by media throughout Latin America, US President Donald Trump suspended further American foreign aid programmes for the weakest countries in the region.
American professor Carol Wise, an expert on Chinese foreign policy, accused the Trump administration of "committing a cardinal error in foreign policy." This was regarded as an expression of "blatant hostility towards many Latin American countries, which China eagerly exploited."
An example? Chinese companies began replacing their former American partners with partners from Mexico - as noted by Mexican media. However, this process did not start in January this year when Trump took office. Sales of Chinese goods in Mexico increased from just over £4 million in 2013 to £491 million in 2022. This trend is currently intensifying.
Since the start of Trump's presidency, China has rapidly been replacing Mexico's traditional American partner - notes the Mexican press.
They point out that the pace of these changes is accelerating every week, although, according to official data, Mexican-American trade remains roughly seven times larger than trade with China.
China cooperates with 20 Latin American and Caribbean countries
More than 20 countries in Latin America and the Caribbean are already participating in China's Belt and Road Initiative, which aims to expand China's global influence by financing costly, large-scale investment projects.
Since the beginning of 2023, eight presidents from South American countries have officially visited Beijing.
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