China makes aggressive efforts to increase influence in Latin America

Beijing: – Officials and analysts are warning that China is investing heavily in Latin America, and if the trend continues, the United States will lose Latin America without a fight. According to the China-Latin America Finance Database, published by the thinktank ‘The Dialogue’, China has invested about $150 billion in Latin America and the Caribbean over the past two decades. Trade between China and Latin America has increased nearly 25-fold in the last two decades.

The US Secretary of State has been on a tour of Latin America since Tuesday. Against this backdrop, the issue of the growing Chinese influence in Latin America has once again come on the anvil. A few months ago, the United States announced a ‘Build Back Better World’ (B3W) initiative and the G7 group. The initiative is known to be a challenge to the Chinese Belt and Road Initiative. The United States sent a delegation to Latin America last month as a part of the preparations for B3W. After that, Secretary of State Blinken is also on a visit to Latin America.

However, analysts and officials claim that the visits by US officials are unlikely to help curb the growing Chinese influence. Analyst Nicholas Santo has openly accused the United States of not paying enough attention to Latin America during the last decade. Santo also warned that China was increasing its influence in every possible way, including trade deals, taking advantage of US negligence. Ecuador’s ambassador to the United States, Evan Becky, has expressed displeasure at the ongoing competition for Latin America, saying the United States appears to be gifting it away to China without any fight.

Thomas Shannon, a former senior US official, claimed that the ongoing movement by China in Latin America and the Caribbean is an attempt to check the United States. ‘The United States is stepping up military operations in and around Taiwan, which is the backyard for China. China is trying to show that if you come to our neighbourhood and take action, we can come to yours and retaliate.’ Shannon said.

According to the China-Latin America Finance Database, the current trade between China and Latin America crossed $300 billion. China is importing large quantities of fuel and minerals from the continent. At the same time, it is trying to strengthen its grip on these countries through funding and investment in infrastructure. China has lent more than $60 billion to Venezuela alone. Debts to Venezuela, Paraguay and Ecuador account for more than 10% of their GDP. China has taken over two energy networks in a country like Chile. China is building three major power projects in Argentina. In contrast, China has acquired ownership of the second largest port in Brazil.

In addition, China is expanding its influence in Latin America through other ongoing projects in various countries. Analysts claim that even if the United States tries to retaliate, aligning with other countries, regaining lost influence will be a major challenge for the United States.