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Between 2000 and 2009, trade between China and Latin America increased by 1,200% from $10 to $130 billion. [2] According to the Chinese Trade Ministry Counselor Yu Zhong, in 2011 the value of trade increased to $241.5 billion, making China the second largest trading partner of Latin America (the USA is the largest).
By 2010, China surpassed Japan to become the world's second-largest economy and at the same time it also surpassed Germany in terms of export volume, becoming the largest in the world. The massive increase of GDP in China has led to an increase of living standards for the Chinese since their incomes have doubled or even quadrupled every 10 years.
The lack of focus on Latin American development in the post-war period was addressed by the creation of the Inter-American Development Bank (IDB) was established in April 1959, by the U.S. and initially nineteen Latin American countries, to provide credit to Latin American governments for social and economic development projects. Earlier ideas ...
The 2021 data lacks trade numbers from some regional countries but those balance each other out in terms of U.S.-China bias. The outlier in Latin America, Mexico's trade flows with the United ...
It is one of two multilateral cooperation funds created by the Chinese government to advance the economic relationship between China and Latin America. The other is the China-LAC Cooperation Fund. Similar to the investment funds in promoting economic ties, the Special Loan Program for China-Latin America Infrastructure Project is a special ...
An exclusive Reuters analysis of U.N. trade data from 2015-2021 shows that outside of Mexico, the top U.S. trade partner, China has overtaken the United States in Latin America and widened the gap ...
"A trade war (with China) would likely intensify in the case of a Trump presidency, and I think that the most affected country in Latin America could be Mexico," said Carlos de Sousa, emerging ...
Argentina is one of China's main trading partners in South America; the trade between both countries amounting to nearly $13 billion in US currency. Before 2008, the amount of exports Argentina sent to China accounted to be US$5.796 billion, and the imports from China to Argentina totaled to be US$7.649 billion. [ 9 ]