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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).
China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
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 ...
China–Peru relations (Chinese: 中秘关系; pinyin: Zhōng mì guānxì; Spanish: Relaciones China-Perú) are foreign relations between the People's Republic of China and the Republic of Peru. Peru is the first Latin American country that China established formal ties with, which was done by the Qing dynasty in August 1875. [ 1 ]
Both the co-financing facility and fund support investments and projects in Latin America and the Caribbean. [1] It is one of three multilateral cooperation funds created by the Chinese government to advance the economic relationship between China and Latin America.
Chinese-American trade was still hindered by the Jackson–Vanik amendment of 1974, which made trade with the United States contingent on certain human rights metrics. [12] By 1984, the United States had become China's third-largest trading partner, and China became America's 14th largest.
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]
In 1986, despite a trade pact with the Soviet Union, Chinese-Soviet trade, according to Chinese customs statistics, amounted to only 3.4 percent of China's total trade, while trade with all communist countries fell to 9 percent of the total. Studies have been conducted linking China's political influence through its trading ability.