China-Colombia Relations: China seeks to strengthen collaboration with Latin American country
Photo: CSC_1217 apreton de manos. By: Belén Garcia Perez. Source: Flickr.
As reported in the article by Sabinna Nicholls, China’s presence in Latin America’s economy has grown significantly in recent decades, with the country emerging as a major player. In just one year, China’s direct investment in Colombia tripled, going from USD $84 million in 2021 to USD $266 million by the end of 2022, as reported by the Banco de la República de Colombia (BRC). These moves are supported by a strategy aimed at penetrating new markets to strengthen economic growth and China’s geopolitical interests. Since 2014, China has pursued an offensive strategy focused on three pillars: financing, trade, and investment. Additionally, bilateral trade has experienced rapid growth, reaching historic levels, and China seeks access to strategic products in the region. The author notes that this growth has been driven by a more assertive foreign policy and China’s pursuit of political influence.
According to economist Pepe Zhang, associate director and research fellow at the Adrienne Arsht Center for Latin America at the Atlantic Council, China’s investment in Latin America significantly increased last year, reaching between USD 7,000 and USD 10,000 million. Zhang emphasized that the region attracting investments comparable to those of Europe is impressive and something unimaginable ten years ago. Therefore, China is striving to have its so-called “golden century” in the region, with Colombia playing a key role in achieving this goal.
Top headline:
Solano, L. Diálogo Américas. (2023, julio 5). China y su apuesta por Colombia, buscando su “siglo de oro” en Latinoamérica.