February 10, 2005
China goes Latin

(Economist Intelligence Unit) - "For the resources its economy needs, China is digging around in Latin America. Will it also be allowed to find markets there?

Latin America is a pain to travel to from China. But recently, leaders from both sides have been shuttling back and forth. Both the Argentine and Brazilian presidents visited China in the first half of 2004, inspiring Chinese President Hu Jintao to return the gesture with a landmark 12-day tour through Argentina, Brazil, Chile and Cuba in August. Just several months later, Venezuela's President Hugo Chávez spent Christmas Beijing, prompting the Chinese media to gush that China-Latin American ties had entered 'the best period in history' (...)

This year the promises keep coming. Thanks to recent deals, signed on Mr Chávez's trip to Beijing in December and at the end of January during a visit by Chinese Vice-president Zeng Qinghong's to Caracas, Mr Chávez now expects China-Venezuela trade to reach US$3bn in 2005 (more than twice the 2004 total of US$1.3bn). The 19 most recent deals, announced on January 29th, include Chinese investments in mining and oil and gas projects (...)".