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Both Countries are vying for Economic Hegemony in Latin America, But both are pursuing different approaches.
Today the U.S and China are in a new Cold War dubbed an “Economic Rivalry,” by the West and it’s an anything goes’ kinda rivalry, and as such, both countries are vigorously competing with each other for beneficial trade deals & minerals resources around the world. Cue the trade war between China and the U.S., The U.S fired the first shot by blacklisting Chinese companies it could not compete with, and as such, banned those companies from doing business in the U.S. The U.S also tried to force its own allies into following its lead in black-listing those same Chinese companies.
- Huawei is an example of a foreign company the U.S found unable to compete with.
With China’s growing trade in Central America & South America, The U.S. Southern Command is closely tracking China’s moves in the region. Not too long ago, America claimed hegemony over all countries south of its border, considering them to be part of its sphere of influence via the Monroe Doctrine.
In short, the U.S has been exercising dominance by overthrowing elected governments that didn’t oblige with America’s business interest or didn’t toe the U.S Foreign Policy line. in contrast, China has not shown interest in other Governments’ internal affairs, choosing its so-called “win-win trade deals” over interference.
How Has China’s approach to non interference benefited its trade?
According to a report from the World Economic Forum, China’s trade with Latin America and the Caribbean grew 26-fold between 2000 and 2020. LAC-China trade is expected to more than double by 2035, to more than $700 billion. That same report also states China is expected to continue to see trade growth while the U.S will continue to see a decline.
China is also an increasingly important creditor and investor for the region’s various economic sectors. Research by Inter-American Dialogue and Boston University found that Chinese state-to-state finance has exceeded the sovereign lending from the World Bank and the Inter-American Development Bank (IDB) since 2005.[i]
For the U.S, Old Habits Die Hard
The U.S is continuing with the old playbook of overt and clandestine interference in order to garner better deals for the U.S business community.
Countries The U.S is Currently interfering with are listed below
Most of these countries listed face false accusations of human rights abuses by USAid funded groups. The U.S funds many groups around the world; those groups work in correlation with the U.S State Department, and oftentimes, their work is used as a pretext for U.S intervention.
Almost all countries listed above, with the exception of Cuba, have or have had USAid Groups working within those countries alongside an opposing party in order to change a Government that has been deemed undesired by Washington.