Brazil is planning a significant rail connection to Peruâs Chancay megaport, aiming to enhance trade and reduce reliance on Atlantic shipping lanes, backed by Chinese financing. This move reflects growing Chinese interest in Latin America, further complicated by U.S. trade policies under Donald Trump, which have pushed many Latin American countries closer to Beijing. Chinese investment is increasing, with Colombia contemplating participation in the Belt and Road Initiative and Venezuela strengthening its oil ties with China. Amidst this, analysts underscore the need for clear policies, contrasting China's steady approach with U.S. unpredictability.
Amid the turbulence of the US-China trade war, China's consistent strategy is standing in sharp contrast to Washington's erratic approach, argues Vladimir Rouwinski, adding that, "what Latin America needs most right now is clarity."
Chinese President Xi Jinping offered billions of dollars to Latin America and the Caribbean, with commitments including 66 billion yuan ($9.2 billion) in credit to the CELAC members.
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