What are China’s political interests in the region?Īt the forefront is China’s desire to expand its sphere of influence through what it calls “ South-South cooperation”, a development framework focused on aid, investment, and trade. China is currently South America’s top trading partner and the second-largest for Latin America as a whole, after the United States. By 2021, trade totaled $450 billion, and economists predict that it could exceed $700 billion by 2035. Over the next eight years, trade grew at an average annual rate of 31 percent, reaching a value of $180 billion in 2010. In 2000, the Chinese market accounted for less than 2 percent of Latin America’s exports, but China’s rapid growth and resulting demand drove the region’s subsequent commodities boom.
Other countries with large diaspora communities include Brazil, Cuba, Paraguay, and Venezuela. Today, Peru has the region’s largest Chinese diaspora community, amounting to about 5 percent of the population, or one million people. President Richard Nixon’s trip to Beijing in 1972, but it was not until after China’s entry into the World Trade Organization in 2001 that they began to form robust cultural, economic, and political ties. Most Latin American countries recognized Mao Zedong’s communist government following U.S.
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