China Seizes Opening in U.S. Backyard as Trump Upends Policy
China Seizes Opening in U.S. Backyard as Trump Upends Policy
The perception is that the U.S. has changed track and that trade policies will begin to reflect that, comments AS/COA's Eric Farnsworth as China opens to Latin America.
As Donald Trump weighs plans to tear up trade deals and deport illegal migrants from Latin America, Chinese President Xi Jinping is moving swiftly to reset relations in America’s backyard.
Xi returned from a Latin American swing last week having lavished Ecuador with $10 billion in energy and infrastructure deals, and bestowed Ecuador and Chile with China’s highest diplomatic status. He told Peru’s Congress relations were “standing at a new historical starting point.” While attending a summit in Lima with his lame duck U.S. counterpart, Barack Obama, he cast China as the region’s most eager trade advocate….
‘Honest Conversation’
Council of Americas Vice President Eric Farnsworth, whose group represents U.S. business interests in the region, called views of China’s and the incoming U.S. administration’s commitment to Latin America “deeply contrasting.” “The perception is that we’ve changed track and that policies will begin to reflect that,” Farnsworth said.
Still, China’s focus on Latin America as a source of raw materials -- including iron ore, oil and soybeans -- does little to promote industrialization in the region and has made it vulnerable to the country’s current slowdown. The political and economic turmoil engulfing Venezuelan President Nicolas Maduro, a key Beijing ally, has shown China’s need to diversify its relationships in the region….
