2 April 2015

Why China Shouldn't Get Too Invested in Latin America

By Xue Li and Xu Yanzhuo
March 31, 2015

The First Ministerial Meeting of China-CELAC Forum, held in Beijing in early January 2015, was undoubtedly a successful one. More than 40 ministerial-level officials from 33 member states of CELAC participated in the meeting, while the heads of Venezuela, Ecuador, Costa Rica, and Panama attended the opening ceremony. Panama’s President, Juan Carlos Varela, suggested elevating the next meeting to heads of state and government level.

The meeting launched three outcome agreements, including the China-Latin American Countries and Caribbean States Cooperation Plan (2015-2019). China signed a $20 billion joint project loan agreement with Venezuela and a $5.3 billion loan agreement with Ecuador. 

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