Posted: Tuesday, May 13, 2025. 8:32 am CST.
By Zoila Palma: Today, China pledged $9 billion in new credit to Latin America and the Caribbean as President Xi Jinping opened the China-CELAC Forum in Beijing, reaffirming efforts to deepen ties and challenge U.S. influence in the region.
Addressing leaders from around 30 nations, Xi said China would increase imports from the region and expand investment, while also rolling out visa-free travel for five yet-unnamed countries.
A joint action plan through 2027 was adopted at the summit, Reuters report.
The yuan-denominated credit line comes as part of Beijing’s broader push to boost its standing in the Global South, though it’s less than half the amount pledged at the inaugural forum in 2015.
Analysts note the funds may be less effective for countries burdened by dollar-denominated debt.
Brazilian President Luiz Inacio Lula da Silva, while welcoming cooperation, cautioned against overreliance on foreign powers.
“It’s important to understand, (the fate of Latin America) doesn’t depend on anyone else. It does not depend on President Xi Jinping, it does not depend on the United States, it does not depend on the European Union, it depends solely and simply on whether we want to be great or continue to be small,” Lula said.
Trade between China and the CELAC bloc hit $515 billion in 2024, with Brazil accounting for nearly half. Despite concerns, ties between Beijing and Latin American nations continue to deepen, with China expanding its economic and diplomatic footprint.
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The post International News: China offers $9 billion to Latin America, aiming to rival U.S. influence appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Tuesday, May 13, 2025. 8:32 am CST. By Zoila Palma: Today, China pledged $9 billion in new credit to Latin America and the Caribbean as
The post International News: China offers $9 billion to Latin America, aiming to rival U.S. influence appeared first on Belize News and Opinion on www.breakingbelizenews.com.
