China's growing influence reshapes Latin America's alliances
The economic challenge posed by China to the United States, which was previously the leading partner of Latin America, is already evident, as noted by Latin American media. China is challenging the U.S. hegemony in the region, a dominance that has lasted for about two decades.
In November last year, Xi Jinping travelled to South America to officially open the seaport in Chancay, Peru, which was built as part of China's Belt and Road Initiative. The cost of this investment was approximately 4 billion Canadian dollars.
Latin American media consider this trip the beginning of China's establishment of a strong position in this region. Xi met with leaders from Mexico, Brazil, Bolivia, Chile, and Argentina, emphasising his desire to strengthen economic ties with South America.
According to the Latin American media, China has taken on the role of leading economic partner in the Latin American economy, competing directly with the United States. They are challenging the long-standing U.S. hegemony in Latin America. In at least six countries - Panama, Peru, Chile, Uruguay, Brazil, and Bolivia - China has been building its position slowly but effectively.
Expert: Trump made a cardinal error
During the first month of his administration, as noted by media throughout Latin America, U.S. President Donald Trump suspended further American foreign aid programs for the most vulnerable countries in the region.
American professor Carol Wise, an expert on Chinese foreign policy, accused the Trump administration of "committing a cardinal error in foreign policy." This was perceived as "blatant hostility towards many Latin American countries, which China eagerly exploited."
For example, Mexican media reported that Chinese companies began replacing their former American partners with Mexican partners. Although this process did not start in January, when Trump took office, sales of Chinese goods in Mexico increased from just over 5 million Canadian dollars in 2013 to 800 million Canadian dollars in 2022. This trend is currently intensifying.
Since the beginning of Trump's presidency, China has rapidly been replacing Mexico's traditional American partner - notes the Mexican press.
They point out that the pace of these changes is accelerating every week. However, according to official data, Mexican-American trade remains even seven times larger than trade with China.
China cooperates with 20 Latin American and Caribbean countries
More than 20 countries in Latin America and the Caribbean are already participating in China's Belt and Road Initiative. This initiative aims to expand China's global influence by financing expensive, large-scale investment projects.
Since the beginning of 2023, eight presidents from South American countries have officially visited Beijing.
