At a summit in Beijing, China extended a $9.2 billion credit line to Latin America, requiring the funds to be in yuan, aiming to strengthen its economic influence and reduce reliance on the US dollar. Chinese President Xi Jinping highlighted the historical ties and community at the China-CELAC Forum. Notably, he introduced a potential visa-free policy for five nations and noted that two-thirds of Latin American countries have engaged with China's Belt and Road Initiative. Xi subtly criticized US trade practices, implying their approach leads to isolation.
The move to extend a credit line of $9.2 billion exclusively in yuan aims to bolster China's financial influence in Latin America, excluding the US dollar.
Xi emphasized the historical friendship between China and Latin America, portraying the summit as a growth opportunity for both sides in diplomatic and economic ties.
China's engagement in Latin America, especially through the Belt and Road Initiative, reflects its ambition to dominate the region's economies and infrastructure.
Xi criticized the US approach to trade, stating that 'Bullying and hegemony will only lead to self-isolation,' advocating for more cooperative international relations.
Collection
[
|
...
]