Matthew Fulco
The People’s Republic of China (PRC) has cultivated close ties with Brazil, which it sees as a prime candidate to co-lead the Global South in an emerging multipolar world.
Beijing is now the top trading partner for the South American continent, including with individual countries like Brazil, Chile, and Peru, and has persuaded 24 of the 33 members of CELAC—the Community of Latin American and Caribbean States—to join the One Belt One Road initiative.
The PRC has also been successful in poaching Taiwan’s dwindling allies in the region and is currently targeting Paraguay and Guatemala with economic incentives.
In May, People’s Republic of China (PRC) President Xi Jinping announced an RMB 66 billion ($9.2 billion) credit line to partners in the Community of Latin American and Caribbean States. Unveiled at the opening ceremony of the annual at the China-CELAC Forum in Beijing, this was the latest example of a determination to leverage the PRC’s vast financial and economic resources to expand influence in the region. Xi also vowed to increase imports from the region and encourage PRC firms to invest there (Xinhua, May 13).
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