» 02/27/2015, 00.00
CHINA - LATIN AMERICA
China, a record 2014 for loans to Latin America
Beijing has lent $ 22 billion a year to the South American continent and is poised to break the of 2010 record, when the figure touched 37 billion. Analysts warn: "China may tacitly require that Chinese companies have a hand in some projects". "Diplomacy of the yuan" continues to spread from Southeast Asia to Africa.
(AsiaNews) - Loans made by Chinese state-owned banks to the nations of Latin
America have grown in 2014 by a 71% over the previous year, coming in at around
$ 22 billion. According to data presented in a report by the China-Latin
America Finance Database, this is the second largest volume of money granted in
recent history by Beijing to the continent: the record dates back to 2010, when the total figure stood at 37
In any case,
Chinese loans exceed those provided by the World Bank and the Inter-American
Development Bank together. Brazil alone received 8.6 billion, followed by
Argentina with 7 billion, Venezuela with 5.7 billion and Ecuador with 821
the authors of the report, "China may tacitly require that Chinese companies have
a hand in some projects, but has avoided meddling in domestic policy".
finance is key for a number of infrastructure programmes in Latin America,
including an upgrade of the underground in the Argentine capital, Buenos Aires,
and road building in Ecuador. According to expert estimates, at this rate 2015 will break
the 2010 record.
This policy of
government loans does not just concern Latin Ameria, but ranges from Southeast
Asia to Africa. In fact, between 2000 to 2011, China invested more than $ 75
billion in Africa. Of these, only 1.1 billion per year are officially declared as
"contributions to a developing country" within the Organization for
Economic Cooperation and Development (OECD). The amount of American investments
in the same period is estimated at $ 90 billion.
struggled to keep the exact figure of their African investments under wraps, as
they have been defined by some analysts "a new form of colonialism."
The researchers, based on Western and African news sources have identified 1673
Chinese projects on the Continent over the period under consideration.
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China vows to double trade with Latin America 'within 10 years'
President Xi pledged to double annual trade during a Forum in Beijing with leaders and ministers from about 30 nations from Latin America and the Caribbean. The two-day meeting aims to boost cooperation on security, finance, infrastructure, energy and technology.
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Ma Ying-jeou in Central America. Beijing’s reprimand
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After Malawi's defection, Chen clings to the last allies he has left
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Nicaragua chooses Beijing to challenge the Panama Canal
Managua approves the construction of a new canal linking the Pacific and the Atlantic. Funded and managed by China, the new canal is also response to Taiwan's influence in the region. In his first official visit to the region, Xi Jinping lays out China's Latin America policy.
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