World November 3, 2023 | 12:41 pm

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The United States seeks to stop Chinese influence in Latin America

Washington D.C.-  U.S. President Joe Biden is actively seeking to boost trade relations with Latin America, aiming to counter China’s global manufacturing dominance. In a move to expand U.S. alliances in the region, Biden met with the leaders of the Dominican Republic and Chile. This effort is part of a broader strategy to compete with China and Russia and promote economic growth while addressing issues like corruption.

Treasury Secretary Janet Yellen outlined the administration’s goals, emphasizing the diversification of supply chains with trusted partners and allies in Latin America. The U.S. intends to drive growth in the region by investing in clean energy, pharmaceuticals, medical equipment, and electric vehicle components. Yellen highlighted the potential for locally mined lithium to be used in battery production and the production of automotive chips for electric vehicles.

The Inter-American Development Bank (IDB), the largest multilateral lender in Latin America, will support these new projects through grants, loans, and programs. The U.S. is the bank’s largest shareholder with 30% of voting rights.

While the U.S. seeks to deepen its engagement in the region, it is also concerned about China’s increasing influence at the IDB. China has invested heavily in Latin American countries, which has raised concerns among U.S. policymakers. The proposed IDB Transparency Act aims to assess and reduce Chinese involvement in the bank’s projects.

As part of its focus on Latin America, the U.S. is planning to increase its engagement in the region, with Treasury Secretary Yellen expected to make frequent trips to South America and Latin America in the coming year, especially with Brazil assuming the presidency of the international forum of the Group of 20 (G20).

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Platano Frito
November 3, 2023 1:02 pm

So competitive pricing and infrastructure modernization ?, or Loans that cant be repaid followed by control of all resources and regime control / influence ?

joaquin lukoki
November 3, 2023 3:10 pm
Reply to  Platano Frito

Check the Monroe doctrine… You will understand why the latin America is in its current state today and why it has not lived up to its potential

Alfredo
November 3, 2023 4:32 pm

IMHO all of this brouhaha by the US is because the Chinese are doing a better job diplomatically and economically…no brainer…

Hog
November 3, 2023 7:10 pm
Reply to  Alfredo

Pretty dumb statement. You must not know how they do business.

Platano Frito
November 3, 2023 8:40 pm
Reply to  Hog

The chinese foreign policy is leaps and bounds ahead of the USA, especially in Africa and south America, The USA media monster are pretty anti china, A clear indication of the typical US playbook demonization. They did the same in Libya and Venezuela

Hog
November 4, 2023 7:33 am
Reply to  Platano Frito

They want world domination at any cost. Hopefully they don’t get thier claws in too deep and ruin this country also. They are no good, didn’t you learn anything during Covid? People like you make the problem worse. God help us.

Platano Frito
November 4, 2023 2:44 pm
Reply to  Hog

The numbers dont lie

Alfredo
November 5, 2023 11:46 am
Reply to  Hog

You must be drinking the American kool aid…burp