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It’s no secret that China has been pouring resources into South America this century, chipping away at the United States' historic dominance. But an important shift has gone largely unnoticed in the country's approach to the region: going local to expand and strengthen its financial grip.
It’s no secret that China has been pouring resources into South America this century, chipping away at the United States' historic dominance. But an important shift has gone largely unnoticed in the country's approach to the region: going local to expand and strengthen its financial grip.
(Bloomberg Markets) -- In the hinterland of Argentina, Mario Pizarro’s office looks like a shrine to China. There’s the framed photo of a Chinese peasant with Pizarro’s face superimposed beneath the conical farmer hat. There’s the blue-robed smiling Buddha statue.
Instead of focusing on national leaders, China and its companies have built relationships from the ground up.
Latin America has long been a focus of great powers.