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Epoch Times
4 days ago
- Business
- Epoch Times
Beijing Turns Its Eye Toward Latin America
Commentary Despite the pause in President Donald Trump's tariff pressure on China, Beijing knows how vulnerable its economy is to a trade war with the United States. In an effort to find alternatives to the American relationship, China has launched a charm offensive the world over, most pointedly in Washington's backyard, in Latin America. With Latin American trade in mind, Beijing has convened meetings of the China-Community of Latin American and Caribbean States (CELAC) Forum. Beijing launched the group in 2015. At these most recent meetings, Chinese leader Xi Jinping reminded delegates from the 30 countries gathered in Beijing earlier in May how much China–CELAC trade has grown in the years since the forum was inaugurated, to the equivalent of $515 billion in 2024, still smaller than Xi also touted China's Belt and Road Initiative (BRI, also known as One Belt, One Road) and pledged a 66 billion yuan (about $9.2 billion) credit line for fresh infrastructure investment. It is an attractive amount to less-than-fully developed societies in Latin America and the Caribbean. But as a sign of China's other severe economic problems, Xi's recent offer was less than half China pledged in 2015. Credit lines and the glitter of the BRI were not all Xi offered at the forum. He promised both Brazil and Colombia that China would buy more of their exports and that, in addition to his pledge, he would encourage both private and state-owned Chinese firms to invest more in the two countries. Especially Brazil welcomed these promises, since that country and its president, Luiz Inacio Lula da Silva, have positioned themselves to deliver agricultural products to China should a trade war with the United States force China to cut back on heretofore significant American agricultural imports. As part of Beijing's courtship of Latin American trade ties, Xi also announced that Beijing will allow for one year visa-free entry into China for the nationals of five Latin American countries: Argentina, Brazil, Chile, Peru, and Uruguay—not coincidentally, all major agricultural exporters. Related Stories 5/17/2025 2/28/2025 No doubt Xi was especially pleased to announce that Although more than 20 Latin American countries are among the 150 nations participating in China's BRI, the new presence of Colombia is especially important to Beijing, because Panama recently announced its decision to leave the program when its membership expires in about two years. Beijing blames this decision on pressure from Washington, but it is otherwise entirely consistent with the behavior of other nations that have discovered how a BRI affiliation comes with terms and conditions that can be burdensome. The meetings could have been a diplomatic win for Beijing. Though trade issues remain ambiguous and Latin America, even with the Caribbean, cannot make up for lost trade with the United States, China nonetheless appears to have made some progress moving away from its dependence on the United States, should it become necessary. So far, the Trump administration has said nothing about China's actions or those of the nations involved with the China–CELAC Forum. In a purely economic light, things look less like a triumph. The arrangements proposed by Xi will impose costs on a weakened Chinese economy that can ill afford them, and even in the best possible light from Beijing's point of view, the conclusions of the forum hardly bind Latin America to China. Indeed, Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
Bloomberg
19-05-2025
- Business
- Bloomberg
China's Patience Will Beat US Threats in Latin America
If the US-China contest for influence over Latin America was a football match, China would be ahead of the US 2-1 at halftime. While Donald Trump was busy making deals in the Middle East, his Chinese counterpart hosted Latin American leaders with investment and credit lines pledges, visa exemptions and proclamations of friendship and cooperation. Last week's summit between China and the CELAC forum, which groups 33 countries from Latin America and the Caribbean, saw the Asian giant in full charm mode, reassuring the region it's business as usual even if the US is trying to curb Chinese influence in the Americas. The contrast with the Trump White House's bellicosity toward the region — tariffs, deportations and sanctions included — couldn't be sharper.
Miami Herald
16-05-2025
- Business
- Miami Herald
While Trump slashes aid, hikes tariffs, China pumps $9.1B into Latin America
Here's a big story that went almost unnoticed in the U.S. media: China's President Xi Jinping announced a $9.1 billion line of credit, new infrastructure investments and a visa-free policy for several Latin American countries — a sharp contrast to President Trump's moves to raise tariffs, cut foreign aid and tighten visa rules for the region. The Chinese leader made the announcement at the May 13 summit of the Community of Latin American and Caribbean States (CELAC) in Beijing. The event was attended by the presidents of Brazil, Colombia, Chile and other top officials from about 30 countries. Xi didn't mention Trump by name, but he seized the moment to portray China as a more reliable ally and business partner than the United States. 'There are no winners in tariff wars or trade wars,' Xi said in his inaugural speech at the meeting. 'Bullying and hegemonic policies only lead to self-isolation.' He was clearly referring to Trump's tariff increases ranging from 10% to 25% for Latin American nations amid his overall higher global tariff hikes, as well as the U.S. president's estimated 83% cuts in global foreign aid programs. Trump has also tightened visitor entry rules as part of his immigration crackdown — and even vowed to 'take back' the Panama Canal. China's new mega loan to Latin America will allow Chinese companies to increase investments and trade with the region, Xi said. Interestingly, the loan will not be in dollars, but in yuan — part of Xi's strategy to position China's currency as a real alternative to the U.S. dollar. In addition, Xi announced a visa-free entry policy for tourists from Brazil, Argentina, Chile, Peru and Uruguay. Starting June 1, visitors from these countries will be able to visit China for up to 30 days without a visa. The policy may be extended to other Latin American countries later. Also, China will invite 300 Latin American and Caribbean politicians annually to visit China over the next three years. China's foreign ministry spokesman Lin Jian predicted a 'golden decade' for China-Latin American ties, the South China Morning Post reported. In an ironic reversal of roles, China's communist regime is now seen by many countries as a defender of free trade and a rules-based international economic order, while Trump's America is seen as a reckless, populist economic nationalist country. Brazil's left-of-center President Luiz Inacio Lula da Silva said in his CELAC speech that 'President Xi Jinping and I advocate for fair trade based on the rules of the World Trade Organization.' He added, echoing Xi's words, that 'trade wars have no winners.' Granted, China's inroads into Latin America aren't new. It's already the largest export market for several countries in the region, buying much of their soybeans, minerals and other commodities. Total trade between China and Latin America reached a record $500 billion last year, up from $12 billion in 2000. While China's investments in the region have mainly been limited to ports, roads and bridges needed to ship commodity exports, they are diversifying into electric cars, renewable energy and artificial intelligence companies. To be sure, China's economy is struggling, and its new credit line for Latin America will be less than half of what China announced at the first CELAC meeting in 2015. Nevertheless, it helps China portray itself as a better global citizen than Washington. Ryan Berg, an expert on China-Latin America relations with the Center for Strategic and International Studies, told me he's most worried about China's planned invitations to 300 Latin American politicians a year to showcase 'China's governance model' to the visitors. 'What the hell is that?' Berg told me. 'Seems like an attempt to message that autocracy is an OK development model.' The fact is that while China is offering new loans, investments, free-entry visas and all-expenses-paid visits for Latin American politicians, the Trump administration is pushing nothing but a negative agenda for the region. When Trump talks about Latin America, it's all about gruesome crimes, drugs and illegal immigration, most often cherry-picking isolated incidents to falsely present them as generalized calamities. And the U.S. president didn't make things better when he was asked about Latin America on his first day back in the White House in January, and said, 'We don't need them, they need us.' In fact, the United States needs Latin America to do better, so it can increase trade, investments, and reduce migration. To be fair, Washington's neglect of Latin America and China's rise in the region began about two decades ago, long before Trump's first presidency. But Trump's failure to present any constructive plans to improve ties with Latin America has elevated the U.S.'s lack of attention to the region to a whole new level. If Trump doesn't come up with a positive agenda for the region, China will fill the vacuum, and the US. president will go down in history as the American leader who 'lost' Latin America to China.
Asharq Al-Awsat
15-05-2025
- Business
- Asharq Al-Awsat
China Allows Visa-free Entry for 5 Latin American Nations to Boost Ties
China will allow visa-free entry for nationals of five Latin American countries for one year to boost closer connections with the region. Starting June 1, citizens of Brazil, Argentina, Chile, Peru and Uruguay will be allowed to enter China for up to 30 days without a visa, China's Foreign Ministry announced Thursday. The trial program will be in effect for one year. 'We welcome more foreign friends to visit China, to experience the colorful and vibrant China,' Foreign Ministry spokesperson Lin Jian said at a daily briefing. Beijing hosted the China-CELAC, or Community of Latin American and Caribbean States, Forum earlier this week, aiming at strengthening its alliances in the region as a counterweight to US influence. China has been opening up to dozens of countries including most of the European nations, Japan, South Korea, Singapore and Malaysia to boost the economy after strict pandemic travel measures. China and Uzbekistan will also begin mutual visa-free entry for up to 30 days starting June 1, according to China's Ministry of Foreign Affairs.
The Independent
15-05-2025
- Business
- The Independent
China allows visa-free entry for 5 Latin American nations to boost ties
China will allow visa-free entry for nationals of five Latin American countries for one year to boost closer connections with the region. Starting June 1, citizens of Brazil, Argentina, Chile, Peru and Uruguay will be allowed to enter China for up to 30 days without a visa, China's Foreign Ministry announced Thursday. The trial program will be in effect for one year. 'We welcome more foreign friends to visit China, to experience the colorful and vibrant China,' Foreign Ministry spokesperson Lin Jian said at a daily briefing. Beijing hosted the China-CELAC, or Community of Latin American and Caribbean States, Forum earlier this week, aiming at strengthening its alliances in the region as a counterweight to U.S. influence. China has been opening up to dozens of countries including most of the European nations, Japan, South Korea, Singapore and Malaysia to boost the economy after strict pandemic travel measures. China and Uzbekistan will also begin mutual visa-free entry for up to 30 days starting June 1, according to China's Ministry of Foreign Affairs.
