Posted on 05/13/2025 9:43:47 AM PDT by E. Pluribus Unum
Summary
BEIJING, May 13 (Reuters) - President Xi Jinping vowed on Tuesday to boost China's footprint in Latin America and the Caribbean with a new $9 billion credit line and fresh infrastructure investment, although Brazil warned the region not to become overly reliant on foreign funding.
The world's second-largest economy will disburse 66 billion yuan ($9.18 billion) in credit to the Community of Latin American and Caribbean States' (CELAC) members, Xi told delegates from around 30 nations gathered in Beijing for the three-yearly China-CELAC Forum Ministerial Meeting.
"China and the countries of Latin America and the Caribbean are important members of the Global South. Independence is our glorious tradition, development and revitalisation our natural right, and fairness and justice our common pursuit," Xi said.
Xi promised leaders including Brazilian President Luiz Inacio Lula da Silva and Colombian counterpart Gustavo Petro that China would also import more from Latin America and encourage its firms to boost investment.
Beijing has stepped up efforts in recent years to displace the United States as the region's primary development partner, although Xi's global "Belt and Road" infrastructure initiative (BRI) has encountered challenges in some countries.
China also sees courting the region as a way to squeeze self-ruled Taiwan. Seven of the 12 countries that have official diplomatic ties with the island, which Beijing considers one of its provinces, hail from Latin America or the Caribbean.
Haiti and Saint Lucia, which both recognise Taiwan, sent representatives to Beijing for the CELAC summit. Panama's ambassador to China was also in attendance, although the Central...
(Excerpt) Read more at reuters.com ...
Chinese credit works that same way as the Mafia’s. It is a siren song that leads to enslavement.
Dealing with the Devil.
I thought that China was broke. At least that is the narrative I keep seeing.
The Monroe Doctrine says otherwise.
Communist Loan Sharks
They are very big in the building and owning of ports - new & old
Time to resurrect the Monroe Doctrine Mr President. And get rid of the communists in Cuba and Venezuela while you are at it.
Too much to hope for, I am almost certain.
Chinese “aid” is big loans to build lots of nice infrastructure that the borrower can’t pay for so the get “foreclosed” by having to give up their mineral assets and control of their ports . For China it is cheap economic colonization. China is already all over South America and Africa. Third world countries are like American teachers’ unions and school boards. They cannot turn down what they see as free money and are blinded to the huge chains that come with it. No one can see past right now.
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