President Xi to Visit Latin America

[TaiShang]

President Xi to Visit Latin America

Xi to attend BRICS summit, visit Latin America

BEIJING, July 7 (Xinhua) -- Chinese President Xi Jinping will attend a BRICS summit in Brazil and visit three other Latin American countries later this month, a Chinese Foreign Ministry spokesman said on Monday.
Xi will attend the sixth BRICS leaders' meeting on July 15 and 16 at the invitation of Brazilian President Dilma Rousseff, according to spokesman Qin Gang.
BRICS is the acronym for five major emerging economies, namely Brazil, Russia, India, China and South Africa.
Qin said Xi will pay state visits to Brazil, Argentina, Venezuela and Cuba from July 17 to 23.
In Brazil, Xi will also meet leaders of Latin American and Caribbean nations.
This month's visit will be Xi's second Latin American tour as president. Last year, he visited Trinidad and Tobago, Costa Rica and Mexico from May 31 to June 6, during which he held talks with leaders of eight Caribbean nations.

 

[Edison Chen]

Would love to see closer ties with Brazilia, Argentina, Venezuela and Cuba. Compared to Africa, Latin America has more stable situation and resources, that's why they are attracting more Chinese investors. China is also the biggest export market of Brazil, mostly the iron mine and China always been the biggest bulk commodity consumer market, there is high correlation between China and Latin America.

 

[Edison Chen]

Latin America's Moment » Foreign Direct Investment in Latin America Holds Steady in 2013

ECLAC also measured the accumulated foreign direct investment. Here Latin America fares well vis-à-vis other emerging markets, with its 32 percent of GDP average besting Russia (25 percent), India (12 percent), and China (10 percent). Chile tops this list, with its FDI stock totaling 77 percent of GDP.

Latin America Increases Relations With China: What Does That Mean For The US?
China's influence in Latin America is increasing | World | DW.DE | 14.10.2013

China's growing influence is particularly impressive in the economic field. China is now one of the most important buyers of commodities like oil, minerals and metals. The exports from Latin America to China tripled from 2000 to 2007. The trade volume and China's direct investment in Latin America increased from 621 million US dollars in 2001 to 44 billion US dollars in 2010, according to the UN Conference on Trade and Development.

Therefore, China needs commodities which it cannot and does not want to import just from Asia and Africa anymore. China wants to gain a broader position. "China tries to diversify its markets and to secures its trading partners and commodity-sources", Ana Soliz from the Giga-Institute in Hamburg said. The Latin American countries want more independence from their two other main trading partners – the US and Europe. Many South American countries benefit from the new relationship with China. They were hardly affected by the economy crisis in Europe, for example.

So China need to diversify our resources export pool, we need to import more oil from Russia and Venezuela, rather than ME. Meanwhile, Latin America wants to get independent from US and EU.

 

[Raphael]

Latin America is an extremely promising region. Mexico is currently wracked by their drug war, but the others all have social stability and seem fully focused on development. The focus should be on Chile, Peru, Brazil, Argentina, Venezuela and Cuba.