China retains economic influence in Latin America — Buenos Aires Times
China retains deep trade and investment positions in Latin America despite political pressure from the administration of US President Donald Trump on countries in the region. As Buenos Aires Times reports, Beijing continues to expand its presence in transport, energy, mining, technology and the consumer sector.
Santamaría, executive director of the Colombian association Asocapitales, said Chinese companies are often cheaper, work more persistently with local authorities and businesses, and have technological advantages in autonomous transport, robotics and drones. In Bogotá, a consortium led by Chinese companies is implementing a metro project.
Trade and investment
China's trade turnover with Latin America grew from just over $14 billion in 2000 to more than $500 billion in 2024. China has surpassed the United States as South America's largest trading partner, while Washington retains leading positions in Mexico, Central America and much of the Caribbean region.
Ecuadorian President Daniel Noboa, whom the publication calls a Trump ally in security, concluded a week-long visit to China, where he met with Chinese President Xi Jinping. Following the trip, Ecuador received commitments to expand solar generation and support responses to the El Niño climate phenomenon with the help of a Chinese artificial intelligence-based meteorological system.
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Strategic sectors
Chinese companies hold significant assets in South America's electric power sector. In Chile, they control more than half of electricity transmission and distribution assets, while in Lima, two Chinese state-owned companies distribute electricity to 10 million residents of Peru's capital.
China is also strengthening its presence in the extraction of critical minerals. In November 2024, Peru's Minsur agreed to sell Brazil's Mineração Taboca to the Chinese state-owned company CNMC, which offered about $340 million for it. The deal provided for the acquisition of tin mining assets at the Pitinga mine in the Brazilian Amazon. In January, CNMC announced its intention to invest $100 million in modernizing the enterprise and expanding production.
At the same time, Mexico approved tariffs of up to 50% on more than 1,400 categories of goods from countries that do not have free trade agreements with it, including China. Former Mexican ambassador to China Jorge Guajardo linked the decision primarily to demands from Mexican industry, which is responding to competition from Chinese manufacturers.
