China signs ambitious agreement to increase influence in Latin America

Beijing – China has started aggressive moves to increase its influence in the Latin American continent, traditionally an area of the United States’ influence. Last month China signed comprehensive agreements with the Community of Latin American and Caribbean States (CELAC), the association of the Latin American countries. It has been revealed that China will assist Latin American countries in Space, 5G, defence technology sectors, and nuclear energy. US analysts have warned that this agreement is a conspiracy to take over the Latin American continent.

Last month, a virtual meeting was held between China and CELAC Forum. The agreement ‘Joint Action Plan for Cooperation in Key Areas (2022-2024)’ was signed during the meeting. In this agreement, China has assured to increase cooperation with the Latin American countries in the nuclear energy, Space, 5G, advanced technology, green tech and the defence sectors. China has expressed willingness to invest in building nuclear projects, developing infrastructure for the 5G technology, green energy projects, and the space sector.

Moreover, China has already invested billions of dollars in the Latin American countries under its ambitious Belt and Road Initiative. It has been revealed that over the last 16 years, China has lent to the extent of $150 billion for various projects in Latin American countries. The Chinese trade between China and the Latin American countries has increased more than 25-fold over the last two decades. In 2000, the Chinese trade with these countries was only $12 billion, whereas now, the trade between the two has reached $315 billion. China has become the leading trading partner for many Latin American countries. Earlier, the United States had enjoyed this status.

Latin American continent and the Caribbean Islands countries are considered the backyard of the United States. Since 2000, the US administration has ignored the sector to a certain extent. China started strengthening its foothold from sectors like ports to nuclear energy in the Latin American continent, taking advantage of the situation. Former President Donald Trump was making substantial efforts to stop China. But analysts are claiming that the Biden administration has not taken the Chinese activities very seriously.

Evan Allis, a former official from the US State Department, warned that the increasing Chinese presence in the Latin American continent could threaten the security interests of the United States.