25% of the commercial exchanges carried out by Latin America in 2035 will be with China, for a total of US$ 700,000 million, double what it represented in 2020, according to a report by Canning House, a debate forum in the United Kingdom.
In said document, entitled “Latin America in a changing geopolitical climate: Relations with Russia and China”, it is stated that Countries like Argentina, Brazil, Chile, Peru or Uruguay already have China as their main trading partner.
In addition to trade, Chinese companies have invested more than US$160 billion in Latin America in recent years, while the China Development Bank (CDB) and the Export-Import Bank of China (ExImBank) have made loans worth US$ 136,000 million.
The interest of China and Latin America in continuing to advance in closer economic and commercial ties is mutual
One of the reasons why the economic and commercial relations between China and Latin America continue to rise is the non-interventionist policy of the Asian giant in the domestic policy affairs of the countries when it comes to strengthening ties with them.
“It is an easier partner for Latin American leaders who receive criticism from the United States on issues such as human rights and corruption,” the report says, according to the DPA agency.
The interest of China and Latin America in continuing to advance in closer economic and commercial ties is mutual.
In addition to trade, Chinese companies have invested more than US$160 billion in Latin America in recent years.
On the one hand, China will seek to ensure the supply of raw materials such as lithium or cobalt. On the other hand, the countries of the region need to ensure trade flows and investments towards their territories.
For this reason, for Canning House it is foreseeable that warnings about the risks of deepening trade relations with China will have “little effect” in Latin American countries.
