{"id":188980,"date":"2023-10-26T06:06:34","date_gmt":"2023-10-26T10:06:34","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=188980"},"modified":"2023-10-26T06:06:34","modified_gmt":"2023-10-26T10:06:34","slug":"china-could-outstrip-usa-in-trade-with-antigua-and-the-region","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/china-could-outstrip-usa-in-trade-with-antigua-and-the-region\/","title":{"rendered":"China could outstrip USA in trade with Antigua and the region"},"content":{"rendered":"
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LOOP: China’s trade with Caribbean and Latin America could surpass that of the United States within the coming years, according to some experts.<\/p>

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Loop News<\/em>\u00a0attended a plenary session for the third Belt and Road Forum for International Cooperation in Beijing on October 17, where Evandro Menezes de Carvalho, Head of the Center for Brazil-China Studies at Getulio Vargas Foundation(FGV), said it\u2019s possible that China could outstrip the US as the main trading partner of the Caribbean and Latin America by 2035.<\/p>\n

\u201cChinese trade investments with\u2026Latin American and Caribbean states, CELAC countries, are a very concrete reality.<\/p>\n

\u201cIt\u2019s no coincidence that any one of the 33 CELAC countries can sign declarations of participation with the Belt and Road Initiative. Thus, the BRI extends to Latin America and the Caribbean.”<\/p><\/blockquote>\n

He said Chinese trade with Latin America jumped from $180 billion in 2010 to $450 billion in 2021 with China maintaining a $7 billion surplus.<\/p>

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\u201cAnalysts predict that China, Latin America and the Caribbean trade could surpass $700 billion by 2035, and China could surpass the United States as the region\u2019s top trading partner.”<\/p><\/blockquote>\n

De Carvalho said the BRI provides an avenue for countries to develop while maintaining their autonomy.<\/p>

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\u201c21st century China is a major investment provider to the world and most importantly, a country that offers the BRI as an initiative to promote development and stability to the world through a diplomacy that respects the cultural diversity and the sovereignty of these states.\u201d<\/p>\n

\u201cThe new Silk Road is a project under which the Chinese government views its foreign policy as a new sign of openness with Chinese colours while providing\u2026diplomacy with Chinese features.”<\/p><\/blockquote>\n

De Carvalho said the BRI needs to be better known in Latin America to be able to access these opportunities.<\/p>\n

\u201cInvesting in research projects and disseminating knowledge about the Initiative is also necessary.\u201d<\/p><\/blockquote>\n

Trinidad And Tobago will be the first Caribbean country to launch a project under the BRI, the Phoenix Park Industrial Estate, later this year.<\/p>

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