Epoch Times China Reports — Chinese Loans to Latin America Plunge as Virus Strains Ties

MIAMI—It seemed like a match made in finance heaven. In 2010, China, its economy roaring and state companies looking to expand globally, set its eyes on Latin America, a region starved of capital but rich in natural resources the Asian giant lacked. The result: a record $35 billion in state-to-state loans that year. Fast forward a decade and the once-torrid relationship is starting to mature in ways that suggest China may be growing wary of its once do-no-wrong partner. For the first time in 15 years, China’s two biggest policy banks—the China Development Bank (CDB) and the Export-Import Bank of China—made no new loans to the region in 2020, capping a multi-year slump driven by Latin America’s worsening economic slide. The data comes from a new report by the Inter-American Dialogue, a Washington think tank, and Boston University’s Global Development Policy Center, both of which have been tracking for years …Read MoreNews and stories on China-US relations | The Epoch TimesAmericas, China, China Business & Economy, China-US News, World, Latin America, diplomacy, Belt and Road

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