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    » 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.

    Beijing (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 billion dollars.

    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 million.

    According to 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".

    Chinese 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.

    Beijing has 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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    See also

    28/10/2009 CHINA – LATIN AMERICA
    Chinese goods conquer Latin America
    Trade between China and the continent soars from US$ 10 billion in 2001 to 140 now. In Latin America, Beijing is seeking raw materials, new markets and ways to diplomatically isolated Taiwan.

    09/01/2015 CHINA - LATIN AMERICA
    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.

    30/06/2009 TAIWAN - CHINA
    Ma Ying-jeou in Central America. Beijing’s reprimand
    In Panama, the Taiwanese president will meet representatives of U.S. government and perhaps even Barack Obama. Canceled the visit to Honduras where there has been a coup. The "diplomatic truce" between Beijing and Taipei has economic reasons.

    18/01/2008 TAIWAN
    After Malawi's defection, Chen clings to the last allies he has left
    The day after his party's electoral defeat, the Taiwanese president left the country for a diplomacy tour of Latin America, where he met with the leaders of the countries that are still faithful to Taiwan. The visit became necessary after the about-face of Malawi, which in recent days recognised "one China, headed by Beijing".

    14/06/2013 CHINA - SOUTH AMERICA
    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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