China Steps in to Support Venezuela, Ecuador as Oil Prices Tumble
Xi eyes doubling of trade volumes within 10 years and promises $250 billion of investment to Latin America.
China stepped up its courtship of Latin American countries Thursday, promising to double trade with the region by 2025 and offering fresh loans to support left-wing governments in Venezuela and Ecuador.
At a meeting in Beijing with the Community of Latin American and Caribbean States, or CELAC, President Xi Jinping said that annual bilateral trade would rise to $500 billion over the next 10 years, and that China would invest some $250 billion in the region in that period.
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