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With Chile on Board, “Belt and Road” Advances into U.S. Backyard

Chilean Foreign Minister Roberto Ampuero said on November 2 that Chile will participate in China’s “One Belt, One Road” initiative, which will deepen the economic and political cooperation between the two countries.

In the statement, Ampuero said that participation in China’s global infrastructure initiative will make Chile more attractive to Chinese investors; he hopes to make his country a “landing point for investments in Latin America.”

China is Chile’s top trading partner and the two countries are deepening ties. Last week, Chile and China signed a trade deal to streamline customs controls and widen access to the Chinese market for Chilean products.

Ever since Trump took office, China has continued to play important roles around the globe. For example, China has been promoting the Regional Comprehensive Economic Partnership, so as to replace the Trans-Pacific Partnership Agreement.

China also challenges the dominance of the U.S. in Latin America. In the coming decade, China will pour a total investment of $250 billion into this region. China is also the largest trading partner of many Latin American countries including Brazil and Argentina.

Source: Central News Agency, November 2, 2018