COA's Eric Farnsworth points out the key takeaways of Chinese President Jinping's trip to the region. ... Play Video
As China's President Xi Jinping continues his tour in Latin America, COA'S Eric Farnsworth identified the most important parts of his visit on CCTV. "China is such an important trade partner for many countries in the Western Hemisphere," he said. "That relationship has been commodities-based, and there are some tensions in the region because they are trying to build more of a value-added relationship." For example, there are plans to build a rail system from Brazil to the west coast of South America. "The reason for that is vary obvious, to get Brazilian commodities to the west coast and from there to China makes it a lot easier," explained Farnsworth.
The world has changed dramatically since the North American Free Trade Agreement (NAFTA) was signed. Today, 20 years later, we live in an era of mega-regionalism. This new reality calls for a new strategic vision for North America.
Just a few years ago, Brazil was brimming with optimism. Rising global demand for resources led to an export and consumption boom. The official poverty rate was declining sharply, thanks to an expansion of the social safety net and falling unemployment.
COA's Eric Farnsworth spoke about China's increasingly dynamic role in Latin America. ... Play Video
In July, Chinese President Xi Jinping will make his first visit to Brazil to attend the sixth BRICs summit. The trip takes place as China’s economic presence in Latin America continues to grow. COA’s Eric Farnsworth spoke with CCTV about the geopolitical significance of the Asian country’s influence in the region. “China is much more interested now not just in bringing materials out of Latin America and the Western Hemisphere, but also in investing in the growing middle class markets in the region,” Farnsworth said, noting China’s increasingly dynamic role. He also discussed how the China-Latin America relationship reflects a changing role for the United States in the Americas.