China Expands $9.2B Credit Line, Strengthens Latin America Ties

Chinese President Xi Jinping announced several initiatives to deepen ties between China and Latin America and the Caribbean (LAC) during the China-CELAC Forum in Beijing, positioning China as a reliable partner amid growing U.S. trade tensions. Xi unveiled a $9.2 billion credit line to support LAC development, visa-free access to five countries, and plans to increase imports of high-quality products from the region, emphasizing multilateralism and opposing tariff wars. He highlighted expanding cooperation in emerging sectors such as clean energy, telecommunications, and artificial intelligence, signaling a move beyond traditional commodity-based trade. Xi also pledged ongoing political and cultural exchanges, including inviting 300 political officials annually for governance experience sharing. These moves come shortly after a provisional tariff truce between China and the United States, underscoring Beijing’s intent to strengthen its influence in LAC as a counterweight to Washington’s protectionist policies. Despite these efforts, challenges persist, including varying regional engagement with China's Belt and Road Initiative and corporate involvement in local projects.