Chinese loans to Latin America plunge as virus strains ties

Monday, February 22nd 2021, 5:02:16 am
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In 2010, China, its economy roaring and state companies looking to expand globally, set its eyes on Latin America, a region starved of capital but rich in natural resources the Asian giant lacked. Fast forward a decade and the once-torrid relationship is starting to mature in ways that suggest China may be growing wary of its once do-no-wrong partner. For the first time in 15 years, China’s two biggest policy banks — the China Development Bank (CDB) and the Export-Import Bank of China — made no new loans to the region in 2020, capping a multi-year slump driven by Latin America’s worsening economic slide.

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