ASUNCIÓN, Paraguay, May 22 (UPI) -- China is expanding its economic and political footprint in Latin America through billions of dollars in loans and cooperative deals, further challenging U.S. influence in the region.
At the recent China-Community of Latin American and Caribbean States forum, President Xi Jinping announced a $9.2 billion credit line for Latin America to support infrastructure, clean energy, artificial intelligence and digital connectivity.
He also unveiled a three-year plan that covers more than 100 joint projects in trade, education, health and food security. In a move to ease travel, China will waive visa requirements for citizens of Brazil, Argentina, Chile, Peru and Uruguay.
China became South America's largest trading partner in 2020, surpassing the United States. Trade with the region topped $500 billion last year and is projected to reach $750 billion by 2035.
Now, China is pushing beyond trade to secure long-term access to natural resources, markets and advanced technologies.
