Arab Today, arab today xi jinping wields economic might on latam tour
Last Updated : GMT 10:58:49
Arab Today, arab today
Arab Today, arab today

Xi Jinping wields economic might on LatAm tour

Arab Today, arab today

Arab Today, arab today Xi Jinping wields economic might on LatAm tour

Chinese President Xi Jinping (1st L)
Havana - AFP

Chinese President Xi Jinping wrapped up a nine-day Latin American tour in Cuba on Wednesday, heading home with dozens of deals underlining Beijing's growing interest -- and influence -- in the region.
Xi kicked off his trip at a summit of the BRICS emerging powers in Brazil, then traveled to Argentina, Venezuela and Cuba -- three countries that have often been among the most outspoken critics of US dominance over the region.
His charm offensive began with the announcement by the BRICS -- Brazil, Russia, India, China and South Africa -- of a new $50-billion development bank and $100-billion reserve fund designed to provide an alternative to the Western-led World Bank and International Monetary Fund.
Latin American leaders had glowing praise for the move, which Xi followed up by proposing a $20-billion infrastructure fund for the region.
"A new beginning, a new perspective, a new motivation," he said at the launch of the development bank on July 15.
It earned him a warm welcome in Argentina, whose cash-strapped government, locked out of capital markets since defaulting on its debt in 2001, is fighting off hedge funds in a US court while staring down the threat of another default.
Argentina and China signed more than 20 deals worth several billion dollars during Xi's visit, in areas from oil to mining to agriculture.
"The arrival of new actors is going to bring our countries new and better opportunities, because it will no longer be possible to have a world where some dominate others. It will be a world of cooperation and that should be the new global model," said Argentine President Cristina Kirchner.
- 'Promising market for China' -
Xi again had his sights on raw materials and energy in his visit to Venezuela, where he signed some 30 deals with President Nicolas Maduro in the oil, mining and agriculture sectors.
"Venezuela has become one of the top countries for Chinese investment," said Xi.
China is also Venezuela's top creditor, and the second-largest market for Venezuelan oil after the United States. It pays for its average 640,000 daily barrels in part by writing down the $17-billion debt Caracas owes it.
Xi announced a "comprehensive strategic partnership" with both Argentina and Venezuela, highlighting China's eagerness to do business with the two resource-rich countries often given the cold shoulder by US and European investors.
He took the same tack in Cuba, signing more than two dozen deals ranging from a credit line to modernize the port of Santiago de Cuba, to developing golf courses in the Americas' only communist-ruled nation.
Cuba does not have as much heft on global markets as the other stops on Xi's itinerary, but its Cold War history is bound up with China's.
"China is full of confidence about the future development of relations between our country and Cuba, and that we will forever be good friends, comrades and brothers of Cuba," Xi said.
But analysts said his trip was more about business than ideology.
"China's political and economic expansion is pragmatic in character. It's not about ideology or competition with the United States, but a Chinese policy of looking long-term for natural resources in different parts of the world," said Venezuelan political analyst Carlos Romero.
Latin America in turn "represents a promising market for Chinese consumer goods," said Carlos Malamud of the Elcano Institute in Caracas.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today xi jinping wields economic might on latam tour Arab Today, arab today xi jinping wields economic might on latam tour

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday