Xi’s Latin America Trip: New Era for Bilateral Ties

Stronger Sino-Latin American Ties to Inject New Vitality Into Asia-Pacific

(Xinhua News Agency, Nov. 16, 2016. Complete text:) Lima - Relations between China and Latin America are expected to further grow as Chinese President Xi Jinping visits Latin America, while stronger Sino-Latin American relations will inject new vitality into the Asia-Pacific.

Xi left Beijing Wednesday [Nov. 16] morning to pay a visit to Ecuador, Peru and Chile on Nov. 17 - 23 and attend the 24th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting on Nov. 19 - 20 in Lima, the Peruvian capital.

This is President Xi’s third visit to Latin America since taking office. The visit will further deepen their traditional friendship, promote Sino-Latin American cooperation and boost the economic development of the Asia-Pacific region.

Since the beginning of the 21st century, economic and trade relations between China and Latin America have grown rapidly. With trade, investment and financial cooperation as three engines, China and Latin America have been promoting cooperation in fields like energy and resources, infrastructure, agriculture, manufacturing, and information technology.

China and Latin America are emerging economies. On the backdrop of a weak global economic recovery and the rise of trade protectionism, the two sides should seize the opportunity to upgrade their cooperation to serve as new engines for the development of the Asia-Pacific region.

Latin America is expected to register negative economic growth for two consecutive years for the first time in more than 30 years, which shows increasing pressure for its economic transformation.

China and Latin America complement each other in the structures of their economies and their development strategies. Latin American countries are looking to diversify their economic development, upgrade infrastructure and accelerate industrial modernization. Meanwhile, China has great advantages in financing, technology, and production capacity.

That makes China and Latin America perfect partners.

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