There’s a lot of talk, mostly in the US, about China growing up and taking over the world one day. In the past decade, China’s influence in Latin America has evolved from insignificant to brow-raising–but where do they actually stand compared with the US?
It is true that China is ahead of the US in regard to a few countries, such as Brazil, Argentina, Peru and Venezuela. And the Chinese market has certainly become an alternative trading partner for Latin America, whose markets were previously dominated by Europe and the US.
But is China staking off the United State’s back yard?
Perhaps not. Since 2010, the Chinese have invested around $10 billion annually in South America, compared to $40 billion from the US. President Xi Jinping’s plan to double investment in the next 10 years, amounting to $250 billion, will be an interesting development to watch.
Posted by: Hunter Carter