China will represent 25% of the Latin American market
By 2035, it is estimated that trade with China will reach 700,000 million dollars
25% of the commercial exchanges carried out by Latin America in the year 2035 will be with China, which translates into figures of a total of 700,000 million dollars, double what the Asian giant represented for the region in the year 2020 .
This is one of the main conclusions drawn from the latest report by Canning House, the main forum for debate in the United Kingdom on the political and socioeconomic situation in Latin America. In said document, entitled “Latin America in a changing geopolitical climate: Relations with Russia and China“, it is stated that countries such as Argentina, Brazil, Chile, Peru or Uruguay already have China as their main trading partner, and the second for many other states in the region.
In addition to trade, Chinese companies have invested more than $160 billion in Latin America in recent years, while the China Development Bank (CDB) and the Export-Import Bank of China (ExImBank) made loans for the value of 136,000 million dollars.
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.
(Reference image source: Marco Trade Magazine)
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