As China’s influence in Latin America (LatAm) nears unprecedented levels, some US lawmakers are pushing for a renewed initiative to exert American influence over the South American continent.
Western Hemisphere Subcommittee Chairwoman María Elvira Salazar (R-FL) and House Ways and Committee Chairman Jason Smith (R-MO) released a joint statement calling for strengthening US-LatAm partnerships.
Representatives Salazar and Smith claimed Latin America is at a pivotal political moment the US could capitalize upon to steer the region in a mutually beneficial direction.
“In recent years, several Latin American governments have seen a dramatic shift in leadership, electing leaders whose values align more closely with our own here at home,” said the reps.
However, the reps warned China has been expanding its operations in LatAm via massive trade agreements, infrastructure grants, and development projects.
According to the reps, “China’s trade with Latin America has ballooned over 3,000 percent, rising from $12 billion in 2000 to $450 billion in 2022.”
China’s increased economic ties with LatAm, warned the reps, grows the former’s political clout within the region. Additionally, several LatAm countries have become legally bound to depending on China.
The latest research demonstrates countries such as Venezuela, Ecuador, Argentina, and Jamaica are highly indebted to China.
Venezuela’s Chinese debt, for example, nears 100% of its entire GDP.
Consequently, Salazar and Smith are recommending the US update its trade policy to “reward countries in the region whose leaders push for change that aligns with our values and not communist China’s.”
Not only would such a policy benefit LatAm, allege the reps, but also the US.
A consequence of expanded trade with LatAm, continue the reps, would also serve to decouple American supply chains from their current dependence on Chinese imports.
