US-China rivalry in Latin America: a race for influence
The region’s challenge lies in extracting value from both powers while avoiding the pitfalls of excessive dependence on either
LATIN America has solidified its status as yet another battleground in the broader US-China strategic competition, transforming what was once considered Washington’s “backyard” into contested geopolitical terrain. This shift reflects not only China’s global ambitions, but also the changing dynamics of hemispheric influence in the 21st century.
China’s expanding economic footprint
Over the past two decades, China has fundamentally altered its relationship with Latin America. Trade between China and the region reached a record high of US$518.5 billion in 2024, up 6 per cent year on year, according to China’s Ministry of Commerce.
This surge, from roughly US$12 billion in 2000, has made China the top trading partner for several South American nations, including Brazil, Chile and Peru.
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