Asia’s Growing Influence in Latin America

For more than two decades, Asia has developed close economic and security ties with many Latin American countries, including Brazil and Venezuela. However in particular China’s growing influence in the region has raised concerns in Washington and beyond.

Chinese firms are major investors in the region’s energy, infrastructure, and space industries, and the country has surpassed the United States in many South American nations’ as the largest trading partner. China has also expanded its diplomatic, cultural, and military presence throughout the region. Most recently, the country leveraged its support amid the COVID-19 pandemic, supplying the region with medical equipment, loans, and hundreds of millions of vaccine doses.

The growth of Asia’s economy, and its impact across the globe, was discussed today at Horasis Asia Meeting in Binh Duong, Vietnam.

Asian Governments are promoting private sector inclusive growth, education, environmental resilience and good governance: the results so far are positive. New, high-level plans are in place to lift the nations to a high-income status by mid-century.

How will the global economic malaise affect these plans? Which nations will succeed best, and why? Where might pitfalls lie?

Horasis Chairman Frank-Jurgen Richter

Speakers at the meeting on this topic included:

Roger King, Founder and Chairman, ODS Holdings Inc., Hong Kong

Ben Nelson, Chairman and Chief Executive Officer, Minerva Project, USA

Vo Xuan Vinh, Professor, Ho Chi Minh City University of Economics, Vietnam

Wang Huiyao, Founder, Center for China and Globalization; Former Counselor,China State Council, China

Richard David Hames, Founding Director, The Asian Foresight Institute, Thailand

Said Wang Huiyao, who earlier was a Counselor at the China State Council, “Asia will be the next economic powerhouse in terms of growth.”

Added Ben Nelson, CEO of Minerva Project, “It was because of cooperation and an era of globalization that 800 million people in China were lifted out of poverty.”

From Latin America Reports, 2023-12-4