Latin America Looks to Strengthen U.S. Trade Relations and Step Back From China

Kerry Shannon
Money Morning
March 17, 2011

The United States has long referred to Latin America as its "backyard", and held a strong economic influence on its southern neighbors.

But someone else is moving in.

China's trade with Latin American countries has surged over the past few years, weakening the region's economic relationship with the United States. Now some of those nations - especially Brazil - want to strengthen U.S. ties to reduce their dependence on the world's second-largest economy...

..."We can no longer assume we are the only game in town," Eric Farnsworth, vice president of the Council of the Americas, told Bloomberg News. Competitors are "knocking on the door. We cannot ignore the Western Hemisphere, nor can we take it for granted, because other people are moving in very quickly and very effectively."

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