Swap: Foreign exchange swaps between Argentina and the People’s Republic of China
Argentine President Alberto Fernandez confirmed that the government of the People’s Republic of China agreed to extend the currency swap with Argentina to strengthen the reserves of the Central Bank of Argentina (BCRA).
Progress in Peru’s exports to the Chinese market
PromPerú reported that actions to promote Peruvian coffee in the Chinese market have been carried out through trade offices abroad. This process started in 2018 through reverse missions to Peru, where samples, coffee tastings, seminars, and live broadcasts were presented to the public. As a result, Peruvian coffee shipments to China increased significantly from USD $486, 329 in 2018 to USD$1.7 million in 2021.
Joe Vieira Park, a new monument of friendship between Guyana and China
Joe Viera Park is located in Schoonord, West Bank Demerara in Guyana. The park is currently abandoned and is serving as a habitat for local wildlife. In 2022, the People’s Republic of China (PRC) and Guyana will be celebrating their 50th anniversary of diplomatic relations which were established in 1972. To mark the occasion, the PRC has decided to invest US$10-12 million to build a Friendship Park between the two countries, using the Joe Viera Park as a base.
Strengthening ties and debt reorganization
Ecuadorian President Guillermo Lasso made an official visit to the People’s Republic of China in February of this year. The visit will coincide with the winter games in Beijing, and will also serve as an opportunity to discuss political and economic issues.
Chinese trade sets its sights on Latin America and the Caribbean
A study conducted by researchers at Pontificia Universidad Católica de Chile reveals that China’s relations with Latin America and the Caribbean are becoming increasingly closer. The study highlights that in recent decades investments made by the Asian country in the region have increased from $7 billion to $64 billion and that in the next few years.
China outstrips the US with its imports to Colombia
At the beginning of the current year, the National Administrative Department of Statistics (DANE) revealed data on imports between January and November 2021, estimating that imports totaled US$6,545 million. The most surprising aspect of this study was that, for the first time in eight years, China leads annual imports to Colombia.
China makes the best of the pandemic in Latin America and the Caribbean
Economic and political ties between the People’s Republic of China (PRC) and Latin America and the Caribbean (LAC) have significantly strengthened over the last decade. Throughout the developed world, particularly in the United States, perceptions of China have worsened significantly in the wake of the pandemic.
Alicia Bárcena says that cooperation between China and Latin America and the Caribbean provides an opportunity to reduce global asymmetries
The ECLAC Executive Secretary stressed that China has a long-term outlook and a clear vision of its horizons and goals. She emphasized that China has managed to advance in technological innovation and overcome poverty very quickly and effectively. “This is why we believe that it is very important to study and understand the Belt and Road Initiative in depth and evaluate the participation of the region’s countries —beyond the 19 countries that have already joined it— whatever each of these decides to advance in; whether it be digital, air, or maritime connectivity or in health or cultural aspects”, said Bércena.