Wednesday, August 18, 2010

U.S. Not Threatened by China-LatAm Ties

The State Department is not concerned by increased Chinese financial involvement in Latin America, one official told reporters yesterday.

"It is certainly not a threat," said Arturo Valenzuela, the State Department's top official for Latin America and the Caribbean.

China has increased their investments in the region, and its trade has grown 10-fold over the decade, the AFP reported. In 2008, trade made up 143 billion dollars.

Chinese officials are interested in more raw materials -- like iron ore in Brazil -- and Latin America has been purchasing more Chinese goods.

Also, China lent 20 billion dollars to Venezuela this year.

"China's engagement, investment and trade with the countries of the Western hemisphere... helps to strengthen the economies and provide employment for people in these countries," Valenzuela said.

Xinhua reported that Valenzuela was in Beijing for a fourth round of talks between the United States and China on Latin America.

Sources: AFP, Xinhua

Photo: State Department

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