China's Growing Influence in Latin America

• Author: Varun Roby
• DOI: http://doi.org/10.1111/ajes.12316
• Date: 01 January 2020
• Published date: 01 January 2020

China's Growing Influence in Latin America

By Varun roby*

abstract. This article examines China’s growing influence in Venezuela

and other parts of Latin America as it seeks to secure a steady supply

of cheap oil and new export markets. In recent years, China has

offered loans to cash-strapped nations in the region on better terms

than those offered by the United States and other multilateral lending

institutions. China’s growing influence worries the United States and

other global observers who fear the spread of anti-democratic and

anti-capitalist views. China maintains that its only interest in the region

is economic. The current political turmoil in Venezuela offers China

the opportunity to assuage these fears by supporting the presidency

of Juan Guiado.

Introduction

Hide your capabilities, bide your time,

never take the lead, and be able to accomplish something.

Deng Xiaoping, former president of China

China is one of the central foci of all nations around the world and a

fulcrum for international business. The Chinese economy could sur-

pass that of the United States within a decade under its current model

of operations. As China is the most populous nation in the world, its

people are the largest consumers of oil and energy resources. China

procures its energy resources from other developing and resource-

rich nations through various forms of cooperation and bilateral rela-

tionships. Recently, Panama consented to the Belt and Road Initiative

(BRI), joining BRI initiatives already underway in Africa and Eurasia.

This article focuses on China’s interest in Venezuelan oil and the

acquisition of other energy zones in Latin America.

American Journal of Economics and Sociology, Vol. 79, No. 1 (January, 2020).

DOI: 10.1111/ajes.12316

© 2020 American Journal of Economics and Sociology, Inc.

*Graduate student, Madras Christian College, Chennai, India, studying India-China

relations. Email: varunroby@gmail.com