China Seeks to Join Latin American Bank – Julie Watson
…Bank President Luis Alberto will sign an agreement of understanding on Sunday with Zhou Xiaochuan, the head of the People Bank of China, to formalize talks over Beijing’s request to become a member. The bank’s board of directors is holding their annual meeting here Monday and Tuesday…
In recent years, China has been seeking greater influence in Latin America. The resource-rich region offers China, the world’s sixth largest economy, a reliable source of raw materials and other investment possibilities.
China’s membership in the bank also would give it an edge over Taiwan in the region. China has been courting Latin American countries to isolate Taiwan, which also is invested in the region, primarily in aid development and disaster relief. [Full Text]