In a recent address in Beijing, Chinese President Xi Jinping made a pointed appeal to Latin American leaders by promoting China's stability and reasonableness, contrasting this with the United States' unpredictable trade policies under former President Donald Trump. Speaking at the China-CELAC Forum, which included representatives from over 30 Latin American and Caribbean countries, Xi underscored China's willingness to collaborate amidst rising global tensions, protectionism, and unilateralism.
The ongoing trade war between the world's two largest economies, the U.S. and China, has significantly affected global markets, Latin America included. Although the U.S. and China recently agreed to a temporary truce in their trade disputes, Xi's remarks highlighted China's readiness to strengthen ties with Latin American nations.
While Trump maintained some allies in the region, such as El Salvador’s President Nayib Bukele and Argentina’s President Javier Milei, his policies and rhetoric have alienated many others. Bárbara Fernández Melleda, an academic specializing in Latin American studies, noted that Trump's comments about reclaiming the Panama Canal and derogatory remarks about immigrants have been particularly damaging. She observed that such hostility has prompted many countries to seek alternative partnerships beyond the traditional U.S. influence.
China has strategically capitalized on this discontent, arguing against the notion of Latin America and the Caribbean being part of any country's "backyard." Assistant Foreign Minister Miao Deyu emphasized the region's desire for independence and self-determination, criticizing the revival of the Monroe Doctrine, which historically defined the Americas as under U.S. influence.
Alberto Blanco Silva, Cuba's ambassador to China, expressed his view of China as a stabilizing and balancing force for Latin America. This sentiment reflects the growing economic ties between China and the region. China has become Latin America's second-largest trading partner, with trade exceeding $500 billion in recent years. The region also sees significant Chinese investment, surpassing other regions outside Asia.
China's influence extends beyond economic ties, as seen in its diplomacy regarding Taiwan. Many of Taiwan's dwindling diplomatic allies are in Latin America, and China successfully persuaded Honduras to sever ties with Taiwan in 2023.
Chinese involvement is evident in Latin America's infrastructure and technology sectors, ranging from electric vehicles to large-scale projects like the $1.3 billion Chancay port in Peru. Despite some criticism and concerns over these projects, the relationship between China and Latin American countries is perceived as more equitable compared to their historical ties with the U.S. and European colonial powers.
During the forum, Xi announced plans to increase Chinese imports from Latin America, boost investment, and provide substantial financial support—offering 66 billion yuan ($9.1 billion) in fresh credit. Additionally, he expressed a desire to integrate Latin America more deeply into China’s Belt and Road Initiative, a massive infrastructure project aimed at enhancing global trade and connectivity. Colombian President Gustavo Petro, facing U.S. pressure earlier this year, announced his country's participation in the initiative.
This strategic outreach by China highlights its growing footprint in Latin America, offering these countries new opportunities for economic development and partnerships as they navigate the shifting dynamics of global trade and politics.