The purpose of this study is to identify and track projects undertaken by major Chinese state-owned holdings in five Andean countries of South America: Bolivia, Colombia, Ecuador, Peru, and Venezuela, from 2000 to 2023. Nine state-owned holdings were selected based on their significant and extensive involvement in project implementation in these countries, and their clear alignment with the People’s Republic of China’s (PRC) economic and political strategy in the region.
This report represents the culmination of a series of annual investigations which first begun in 2020, focused on analyzing the evolution of the digital diplomacy of the People’s Republic of China (PRC) in Latin America and the Caribbean (LAC). The objective of these investigations is to examine how Chinese diplomatic corps in the region use
The partnership with China promised to turn Venezuela into a Latin America power. Yet two decades, 468 agreements and over $67bn later, agreements with one of the principal exponents of Chavismo have placed the country at a significant disadvantage. The relationship ended heavily in favor of Asia’s largest economy, leaving Venezuela with a vulnerable labor force, billion dollar debts, and a series of half-finished projects.
Since the turn of the century, close to a hundred Chinese businesses have been set up in all but two of Venezuela’s 23 states. Yet this unprecedented inflow of Chinese capital has not translated into impactful projects. Financed by the two multi-billion dollar bilateral funds set up by presidents Hugo Chávez and Nicolás Maduro with China between 2008 and 2015, at least a quarter are still in an early or planning stage. Since then, issues surrounding the non-payment of loans have caused Sino-Venezuelan relations to cool considerably. Now, researchers from the Kiel Institute for the World Economy warn that at least half of China’s lending in recent years can be considered ‘hidden’. There are concerns that now, and in years to come, the opacity of China’s credit mechanisms could jeopardize crisis recovery in heavily indebted countries such as Venezuela.
Colombia announces that it will join the Belt and Road Initiative in accordance with the statements made by the Colombian Vice Minister of Foreign Affairs during the anniversary of the People’s Republic of China.
Peru presents alternatives to Chinese ships in order to allow a new evasion of the rule that requires the installation of the satellite monitoring system.
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