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China, Latin America justified in bolstering ties

China, Latin America justified in bolstering ties
Economic exchanges between Latin America and China have gained momentum after the COVID-19 pandemic, especially through trade between China and Latin American countries on the Pacific coast but have gradually spread to, and intensified in, other areas.

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China and Latin America have been strengthening their economic ties, with China being the main trading partner of several Latin American countries. Direct investment from China in the region has remained above $4.5 billion a year, making it an important destination for Chinese investment. China has also provided loans to the Latin American and Caribbean economies, with a significant amount invested in the energy sector. Chinese interest in Latin America is diversified, with investments in sectors such as semiconductors, subways, and electric vehicles. The increase in Chinese presence in Latin America has raised concerns from the US, particularly regarding Chinese investments in strategic minerals and the construction of a mega-port in Peru. However, Latin American countries have maintained good economic and diplomatic relations with both the US and China. While the US has raised concerns about China's human rights policy, China's view on human rights differs from that of Western states, and Latin America opts for non-interference in such matters. Overall, the strengthening partnership between China and Latin America has allowed the two sides to seek common development.