New Era of China-Latin America Relations

CHINESE President Xi Jinping paid a state visit from November 17 to 23, 2016, to three Latin American states: Ecuador, Peru, and Chile. He also attended the 24th APEC Economic Leaders’ Meeting in Lima, Peru. The trip was regarded as a milestone in the history of China-Latin America relations, one that opened a new era of bilateral ties.

Magnificent Diplomatic Event

Challenged by the continuing international financial crisis and sluggish world economy, and facing an immense challenge from severe air and environmental pollution during the process of industrialization, China’s economy has entered the “new normal stage.” The country’s focus in this decisive period of comprehensively deepening reform and building a moderately prosperous society is now on “structural readjustment, steady growth, and innovation-driven development.”

Latin America, meanwhile, is experiencing lackluster social and economic development due to the recession in Europe and the U.S. and relentlessly falling prices of international bulk commodities. With economic growth having shrunk for six consecutive years and achieving an abysmal -0.6 percent of GDP in 2016, it is the universal wish of all Latin American countries to reverse their economic decline by “boarding the China express.”

A ceremony for the launch of the National ICT Talent Development – “Brazil Seeds for the Future,” sponsored by Huawei Branch Office in Brazil – was held at the Trans-America Expo Center in Sao Paulo on October 18, 2016.

China-Latin America trade growth has also fallen in recent years, bilateral trade volume having decreased from US $263.5 billion in 2014 to US $236.5 billion in 2015. Cooperating to bolster both economies under the new circumstances, therefore, constitutes a common challenge.

President Xi’s latest visit to Latin America marked his third including trips in 2013 and 2014. It thus underlined the great importance the Chinese government attaches to Latin America, and also its aspiration to build a win-win relationship.

During Xi’s seven-day visit, he had wide contact with leaders from various nations and people in all communities. He participated in 70-plus diplomatic events, and witnessed the signing of more than 40 cooperative agreements and program contracts. These fruitful achievements attracted worldwide attention, and were universally recognized as a drive to boost Asia-Pacific cooperation and China-Latin America relations, one that also propels a revival of the world economy and evolution of the global landscape.

As China’s Foreign Minister, Wang Yi, commented, President Xi’s visit linked the Chinese Dream with the Latin American Dream and also the Asia-Pacific Dream on the world blueprint for building a shared community of human destiny, so ushering in a new chapter of all-around diplomacy.