Willy Lam writes that China’s recent diplomatic foray into Latin America is presenting a challenge to the US in its own backyard. During his recent trip to the region, President Hu pledged to invest $100 billion in Latin American countries over the next ten years, up from $1.04 billion invested by Chinese state-owned enterprises last year: “China’s global clout is such that the Hu leadership is in a position to back up its rhetoric about helping Latin America with concrete economic and diplomatic gestures. Apart from FDI, Beijing has pledged to do what it can to promote the international status of large countries such as Brazil. Thus, China has lent support to Brazil’s bid for a place in an expanded UN Security Council. Brazil’s competitors include Japan – whose candidacy is supported by the U.S. – and India. Again, the subtext of the special relationship that Beijing has been trying to forge with Brasilia is that if Brazil feels that its economic and political aspirations have been adversely affected by the giant shadow cast by the U.S., China is ready to extend a helping hand. ” The full story is here. An IHT story on a similar theme is here.
China’s Encroachment on America’s Backyard
Posted by Sophie Beach | Nov 27, 2004