China's growing interest in Latin America

The Asian giant has increased diplomacy and investment in Latin America, with an eye on its natural resources and developing markets for manufactured goods and even arms.

Wednesday, November 19, 2008

Chinese President Hu Jintao begins a Latin America tour on Monday, taking in Costa Rica, Cuba and Peru, as China tightens economic ties and the region hopes for help in tougher times.

Hu's visit to Costa Rica is the highest-level visit by a Chinese official to the first Central American country to break off Taiwan ties in favor of China, in June last year.
Taiwan is now left with only a small circle of 23 international supporters, most of them tiny, poor nations, while Beijing commands the support of 171 nations.
"It's more than just symbolic that Hu Jintao has decided to come, because it is clearly making the point that it is no longer a Taiwanese stronghold," said Costa Rican analyst Luis Guillermo Solis.
Both Taiwan and China have been accused of using so-called "dollar diplomacy" to get nations to ally with them.

But China's economic might is hard to compete with, especially in tough economic times.
Part of China's incentives to Costa Rica came from China's enormous foreign exchange reserves with an offer to buy 300 million dollars in bonds.

Many wonder if Costa Rica's neighbors will be tempted to follow its move.

More on this topic

The "Blah Blah Blah" of Former President Mujica

August 2015

A scruffy old man is running around America preaching the same disconnection with the real world that made him a complete failure as the president of Uruguay.

EDITORIAL

On his way through the Latin American capitals, crowds applaud his coffee shop philosophy, while others who have specific responsibilities in life are surprised at the inconsistencies of the former Uruguayan president.

The Pragmatism of the President of Nicaragua

March 2014

Inflamed with imperialist verve when with his peers in his own backyard, Daniel Ortega has in the U.S. a major economic partner and a firm ally in security.

An article in Elnuevodiario.com.ni notes that President Daniel Ortega went in a week from asserting "... the government of Panama to be a 'spokesman for interests of the empire', referring to the United States and regarding its position on the situation of violence in Venezuela" to deporting " ... the Cuban American Ana Sol Alliegro, wanted by the FBI for illegal campaign donations, among other crimes. "

VI China - LA and the Caribbean (LAC) Business Summit

August 2012

Costa Rica will host the sixth China - Latin America and the Caribbean (LAC) Business Summit, to be held in October 2013.

The summit organized by the China Council for the Promotion of International Trade (CCPIT) and the Interamerican Development Bank (IDB) seeks to strengthen trade relations between the two regions.

What Do Costa Rica Businessmen Want

February 2010

Easier government procedures, security, sufficient energy, linking education with development, infrastructure and modern labor laws.

UCCAEP, the Union of Costa Rican Private Enterprise Chambers and Associations, submitted president-elect Laura Chinchilla a list of 10 things they consider crucial for the country to move forward:

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