The U.S. monitors China’s progress in Latin American economies

Photo: Us & Ch. By: U.S. Department of Agriculture. Source: Flickr.

A report by the U.S. Congressional Research Service (CRS) states that the U.S. government is closely monitoring China’s advance in Latin American economies, including Mexico. The document notes that China has been increasingly engaged in Latin America and the Caribbean (LAC) since 2001, particularly in diplomatic and economic terms. China’s objectives in LAC include securing access to raw materials and agricultural goods, establishing new markets for Chinese products, and partnering with LAC companies to access and jointly develop technology. In terms of trade, China’s imports from the region amounted to $221 billion in 2021, mainly natural resources. China’s exports to the region in 2021 totaled $227 billion, with major exports including machinery and electrical equipment.

Tension between the United States and China increased after the Pentagon discovered that China allegedly used a hot air balloon to spy on U.S. territory. The object was shot down off South Carolina and another similar balloon was spotted in Latin American countries. China claimed that the balloons were for meteorological research and were diverted by the weather. The Chinese government argued that the Latin American governments had a better understanding of the situation and that China always abides by international law and is not a threat to any country.

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Zamarrón, I. (2023, February 11). Forbes Perú. Estados Unidos ‘Vigila’ el avance de china en las economías de latinoamérica.