China Takes Initiative in Relations with Latin America

        By CHEN YUANTING 

        NEW trends unfolded in China’s stable relationships with Latin American countries in the year 2012, apparent in more diversified economic and trade cooperation. China’s proactive application of its strategies in the region has brought about greater global interaction. Achieving common trust and understanding, however, entails greater cultural and educational exchanges.

Premier Wen Jiabao delivers a speech entitled "Trusted Friends Forever" at the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) in Santiago, Chile.

More Proactive

China’s Policy Paper on Latin America and the Caribbean (LAC) released in 2008 constituted the first time the Chinese government had specifically addressed its policy objectives in the region. Four years later in 2012, China adopted clearer, more proactive strategies.

In 2012, Chinese president Hu Jintao attended the seventh G20 Leaders’ Summit in Los Cabos, Mexico. The same year, Chinese Premier Wen Jiabao arrived in Rio de Janeiro, Brazil to attend the UN Conference on Sustainable Development. Upon concluding his visit to Brazil, Premier Wen carried on to Uruguay, Argentina and Chile. He raised suggestions on promoting Sino-Latin American relations, such as setting up a Sino-Latin American cooperation forum, dialogue and cooperation mechanism with the Community of Latin American and Caribbean States (CELAC), and launching a Sino-Latin American cooperation fund. Premier Wen thus sent the clear message that China hopes to cement all-round cooperation and build up long-term strategic relations in the region.

The four countries welcomed Wen Jiabao’s display of good faith. China and Chile have since announced their strategic partnership, so adding another partner to the five China already had in Latin America. Having declared their comprehensive strategic partnership, China and Brazil have started ministerial level dialogues.

China’s proactive promotion of its relations with Latin America coincides with the emergence of consensus among these countries that, under the current sluggish global economy, China might soon take the lead in world consumption and production. They hence raised their requirement for a relationship based on mutual benefits in order to guarantee profits accruing to them from the robust growth of Chinese economy.

Diversified Economic and Trade Cooperation

In 2012, Sino-Latin American bilateral trade maintained steady growth, but at a slower pace than in 2011. China Customs statistics show that from January to October of 2012, Sino-Latin American trade volume reached US $217.926 billion – a year-on-year increase of 11 percent, compared with a 6.3 percent growth in China’s foreign trade volume. Meanwhile, China’s exports to Latin-American countries hit US $112.203 billion – a year-on-year increase of 12.7 percent, and imports from Latin America reached US $105.723 billion – a 9.3 percent growth.