China is doubling down on Latin America ties to bolster influence and trade, experts say

Beijing is strengthening economic ties in Latin America to boost trade and gain influence in the resource-rich region, highlighted by the inauguration of a $3.5 billion megaport in Peru by China President Xi Jinping. The port, part of China’s Belt and Road initiative, will significantly reduce shipping times and logistics costs between Peru and China, solidifying China’s position as a top trade partner in Latin America and surpassing the U.S. in the region. Experts believe that China’s focus on Latin America is driven by its need for commodities, agricultural products, and minerals, as well as its strategy to export its way out of a slowing economy.

Full Article