China strengthens Latin America ties as Xi Jinping commits $10B credit line help | Tariff war

Описание: The China-The Community of Latin American and Caribbean States Forum kicked off in Beijing on Tuesday (May 13), with Chinese President Xi Jinping meeting leaders from Latin America and Caribbean nations. The leaders, which included Brazilian President Luiz Inacio Lula da Silva, Chilean President Gabriel Boric and Colombian President Gustavo Petro greeted each other and posed for group photographs with Xi before the meeting got underway. Xi also delivered a speech to the summit. The last time he addressed the forum was at the first of such meetings 10 years ago. Bilateral trade with the bloc was worth $427 billion from January to September 2024, according to Chinese data. China will commit credit lines of just under $10 billion to Latin American countries to support development, but in yuan, its top leader said when addressing a summit of Latin American and Caribbean officials in Beijing on Tuesday. The credit line, denominated in yuan, appears a push to further internationalise the Chinese currency, as China doubles down on deepening strategic and economic ties with the Latin American region. During the inaugural China-CELAC Forum in 2015, Beijing offered $20 billion in credit to be used to help Chinese enterprises invest in infrastructure projects across the continent.


#China #Trump #USChinaTariffs #TradeWar #XiJinping #Beijing #LuladaSilva #LatinAmerica



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