China's now investing $18 billion annually in Latin America

The Foreign Direct Investment in Latin America and the Caribbean 2018 report showed China was the largest investor in the region.
The Foreign Direct Investment in Latin America and the Caribbean 2018 report showed China was the largest investor in the region. | File image

According to a publication by the United Nations Economic Commission for Latin America and the Caribbean, “China is investing less worldwide, but more in Latin America.”  

CEPAL’s Foreign Direct Investment in Latin America and the Caribbean 2018 report showed China was the largest investor in the region based on the measure of merger and acquisition transactions completed in 2017 amounting to an $18 billion investment. 

It could be noted that when President Xi Jinping delivered his keynote speech at the China-Latin America and the Caribbean Summit held in Brasilia in 2014, he announced that China proposed to jointly build a new cooperation framework -- the establishment of the China-Latin American Countries and Caribbean States Cooperation Plan (2015-19). 

One of its goals is to “promote China-Latin America trade to scale up to $500 billion and the investment stock to Latin America up to $250 billion within 10 years.”

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