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Between 2000 and 2009, trade between China and Latin America increased by 1,200% from $10 to $130 billion. [2] According to the Chinese Trade Ministry Counselor Yu Zhong, in 2011 the value of trade increased to $241.5 billion, making China the second largest trading partner of Latin America (the USA is the largest).
China–Peru relations (Chinese: 中秘关系; pinyin: Zhōng mì guānxì; Spanish: Relaciones China-Perú) are foreign relations between the People's Republic of China and the Republic of Peru. Peru is the first Latin American country that China established formal ties with, which was done by the Qing dynasty in August 1875. [ 1 ]
Trade between China and Latin America grew to $315 billion in 2020 from $12 billion in 2000, according to the World Economic Forum. In a decade, that number is expected to top $700 billion.
With China's influence in Latin America during this early period, countries a part of the Mercosur organization also experienced changes within their trade evaluations. [11] The rate of soybean production of five South American countries a part of Mercosur witnessed a 221.4% growth from 1995 to 2010.
Like many other Latin American nations, early contact between Ecuador and China consisted of the flow of Chinese migrants into the nation during the late nineteenth century. Many of these migrants, who were primarily from the Guangdong province, were fleeing the political and economic strife which had destabilized China during that time. [7]
Chinese immigrants working in the cotton crop (1890) in Peru.. The first Asian Latin Americans were Filipinos who made their way to Latin America (primarily to Cuba and Mexico and secondarily to Argentina, Colombia, Panama and Peru) in the 16th century, as slaves, crew members, and prisoners during the Spanish colonial rule of the Philippines through the Viceroyalty of New Spain, with its ...
China is expanding economic ties into Latin America, and Brazil falls into that category. China is investing a Brazilian electric transmission line from the Amazon, as well as importing Brazilian planes and beef. [40] China and Brazil, both members of BRICS, are competing for influence in Latin America.
Venezuela has expressed public support for China's Belt and Road Initiative. In September 2018 Maduro traveled to China to strengthen bilateral relations through the BRI. The exact details of any deals have yet to be disclosed. [21] Of the $150 billion the Chinese Development Bank loaned to Latin America in the past 12 years, a third went to ...