China concluded its last “Made in China” contract signing sweep across the Latin America’s last week.
President Xi Jinping, during his visit last week to Mexico, Costa Rica and Trinidad and Tobago came, signed at least two dozen agreements further consolidating territory the hemisphere.
With Brazil, Mexico and Chile as its main customers, Costa Rica’s premiering stadium and trade agreement made by the Chinese, 33% of the oil from Ecuador endorsed as part payment of its investment in infrastructure and Colombia flirting to get an agreement free trade, the China’s influence is increasingly in the daily life in Latin America.
Nicaragua is ready to sign with Chinese entrepreneurs in trade for large portion of its territory and its coasts on two oceans to build the second hemisphere canal.
A statement from the presidency of Nicaragua confirmed that the National Assembly is drafting a Special Law Initiative for the Development of Infrastructure and Transport Nicaraguan Canal, Free Trade Zones and Infrastructure Associates.
According to information provided by the Assembly, the initiative, which aims to start a feasibility study by a company based in Hong Kong, would be approved this week.
China has become a strong partner in the region, displacing the United States in several countries.
China is the main destination for Brazilian exports andis a vital partner for the economy of Peru. Ecuador and most recently Costa Rica have become increasingly dependenent on China’s economic”help”.
Colombia sells nearly 10,000 million dollars and buys about 3,500 million, while Mexico sells nearly 10 times what it buys: 56.936 million dollars, compared to 5.721 million dollars, according to figures from the National Institute of Statistics and Geography (INEGI ), 2012.
The Chinese economy’s appetite for commodities, especially mining and agriculture, is the main reason the nation has to deepened trade relations with Latin American countries, with or without agreements.
With a trade balance surplus of 6 billion per year Chinese entrepreneurs have been opened stores in the Colombian capital.
Xi Jinping has over 1.3 billion mouths to feed and 950 million people to keep working, according to figures from the National Bureau of Statistics of China.
With that many people China has no choice but to seek to expand trade ties with Latin America. Based on a report by Associated Press
The Costa Rica News (TCRN)
San Jose Costa Rica
