latin america

Global Journalist
6:39 pm
Thu December 5, 2013

Why is China investing in Latin America?

Nicaraguan President Daniel Ortega and Chinese businessman Wang Jing hold up a concession agreement for the construction of a multibillion-dollar canal in Nicaragua.
Credit Esteban Felix / Associated Press

China has dramatically increased its economic influence in Latin America. The United States is still the region’s largest investor, but China is now in second place and gaining a larger market share. In 2009, for example, China loaned a Brazilian oil company $10 billion and built a cellphone factory in Venezuela. The next year, China signed a $10 billion deal for the construction of railroads in Argentina. And in March, Ecuador agreed to auction off one-third of the country's Amazonian rainforest to Chinese oil companies.
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