Pres­i­dent shows re­gion na­tion ready for busi­ness

China Daily (Canada) - - CHINA - By ZHAO SHENGNAN zhaosheng­nan@chi­

Pres­i­dent Xi Jin­ping headed home on Thurs­day af­ter a long and suc­cess­ful tour of Latin Amer­ica with dozens of deals signed and a clearer view of China’s re­la­tions with the re­gion, ob­servers said.

China’s com­mit­ment to boost in­fra­struc­ture devel­op­ment and help the re­gion di­ver­sify its ex­ports away from raw ma­te­ri­als was wel­comed. The visit also es­tab­lished a broader plat­form for Chi­nese en­ter­prises on the con­ti­nent.

On Thurs­day Xi left Cuba, the last stop of his nearly twoweek, four-na­tion trip.

He had also vis­ited Brazil, Ar­gentina and Venezuela and at­tended the sixth sum­mit of the BRICS emerg­ing-mar­ket bloc, group­ing Brazil, Rus­sia, In­dia, China and South Africa. Brazil with the an­nounce­ment by BRICS of a new devel­op­ment bank to sus­tain growth. Latin Amer­i­can lead­ers lav­ished praise on the move, which Xi fol­lowed up by in­creas­ing the credit line for in­fra­struc­ture loans to the re­gion to $20 bil­lion.

China sealed a num­ber of agree­ments in the four coun­tries Xi vis­ited, cov­er­ing a wide range of sec­tors in­clud­ing en­ergy, agri­cul­ture, hy­dro­elec­tric projects and ed­u­ca­tion.

China also made clear its in­ter­est in help­ing to build a rail­way across South Amer­ica that would link ports on Brazil’s At­lantic coast with Pa­cific ports in Peru.

“China has the money and ex­per­tise to in­vest in these ar­eas,” said Liu. “For Chi­nese en­ter­prises ex­pand­ing glob­ally, this re­source-rich re­gion with fair busi­ness rules that meet in­ter­na­tional stan­dards is a good choice. ”

Bi­lat­eral trade has in­creased more than 20 times, from $12.6 bil­lion in 2000 to $261.6 bil­lion in 2013. About 20 per­cent of China’s im­ports of crude oil and 60 per­cent of im­ports of soy­beans came from Latin Amer­ica.

Shen Yun’ao, the for­mer Chi­nese am­bas­sador to Ar­gentina and Brazil, said the co­op­er­a­tion be­tween China and some Latin Amer­i­can coun­tries has be­come the model for col­lab­o­ra­tion among de­vel­op­ing coun­tries in the South­ern Hemi­sphere.

Dur­ing the visit, China up­graded its ties with Ar­gentina and Venezuela to a “com­pre­hen­sive strate­gic part­ner­ship”.

Venezue­lan po­lit­i­cal an­a­lyst Car­los Romero told Reuters: “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.”

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