As America Sleeps, China Conquers Latin America Michael Fumento - Canada Free Press
go to original October 25, 2014

Step aside, EU! China is set to become Latin America’s second-largest trading partner in two years. And 13 years later it will be king of the hill according to the journal China Policy Review. Yes, having locked up Asia and Africa, the ever-hungry Chinese dragon is salivating over what the U.S. at least used to consider its “back yard.”

“Time is running out,” warns America’s Quarterly. “China has quickly become the largest trading partner for many South American nations and Chinese trade deals are much more amenable to Latin Americans.”

That’s bad news for the U.S. Ultimately, though, it’ll also be bad news for all of the Americas.

The costs to the U.S. are obvious. It’s no exaggeration to say Latin American trade is critical to our survival as an economic superpower. “As recently as 2006, America was the larger trading partner for 127 countries, versus just 70 for China,” noted an article in RT.com. “By 2011, the situation had changed drastically: 124 countries for China, 76 for the US.”

It added ominously, “The U.S. passed the baton [as the world’s largest trading partner] after 60 years ahead of the curve.” It also appears China will also become the world’s largest economy by the end of this year.

The U.S. still maintains a big lead in Latin America, with $850 billion in combined imports and exports in 2013 versus $244 billion for China in 2012. But China has been closing the gap at a phenomenal pace. Since 2013 U.S. trade has increased about 250 percent, while China’s has increased about 25-fold - albeit from a much lower baseline.

Read the rest at Canada Free Press

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!