In 2022, China’s ambition for Latin America and the Caribbean is the joint action plan which will expand China’s engagement with Latin America and the Caribbean in various sectors
FREMONT CA: The China-Community of Latin American and Caribbean States (CELAC) Forum Joint Action Plan (2022-2024) is the right place to recognize China’s relationship with Latin America and the Caribbean that would go this year. In the section on health and medical engagement, China aims to endure exporting COVID-19 vaccines to Latin America, comprising manufacture in hand-picked countries of the region, and the conceivable advance of new vaccines through joint laboratories as COVID-19 variants continue to transpire. On the other affirmations to Latin American socioeconomic needs would embrace guaranteed cooperation on food insecurity and poverty reduction. However, both the countries might also be interpreted as opening the door for Chinese companies to provide more loan-financed programs in the region, such as Chinese company COFCO’s acquisition of agro-logistics firms Nidera and Noble for food distribution, or Chinese construction firms that have used Chinese policy bank loans to shape low-income housing for Latin American governments.
The health, economic, and financial stresses of COVID-19 have made Latin America and the Caribbean particularly exposed to China’s advance, comprising the increasing position of China as a procurer of the region’s exports, a provider of loans and investment, and a potential purchaser of corporate operations in the region as the U.S. and other Western companies pursue to sell-off possessions to focus in more powerfully performing markets. In this circumstance, as China stands dignified to enlarge its viable presence and associated impact in the region in an unprecedented manner, the China-CELAC 2022-2024 plan provides a general indication of the directions in which the Chinese government and companies are interested in proceeding. Regional leaders must guarantee that appointments with Beijing and other extra-hemispheric players occur in a rules-based framework of clearness and fairness, under the direction of strong bodies with precisely qualified workforces, and with the full implementation of relevant national laws on all actors. This will reinforce the region’s dominance and exploit the benefits and control the risk of trade with China in 2022 and for years to come