Political Risk Latin America Blog @PolRiskLatam

China wants a piece of Uruguay

Posted in News and Articles, Political Risk by politicalrisklatam on June 9, 2011

by Jude Webber for Financial Times – Beyond Brics, June 9th, 2011.

Government officials on official visits are usually required by protocol to talk of taking bilateral relations to a higher level.

But when Xi Jinping, China’s vice president, uttered the words during a visit to Uruguay, it smacked of the latest chapter in China’s concerted campaign to boost ties with the region’s big agricultural, energy and mineral providers.

China has poured millions into the region and is actively eyeing strategic opportunities, as the FT and beyondbrics have highlighted in the past. Is it now Uruguay’s turn?

Gerardo Penadés, a senator, said the vice president had invited Uruguayan companies to set up shop in China and “mentioned the possibility” of China’s development bank establishing itself in China, according to this story in El País newspaperChina’s ICBC has already been reported to be eyeing the Argentine assets of its partner, Standard Bank. (continue reading… )

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2 Responses

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  1. OFFICE OF MEL THOMPSON, J.D. said, on June 10, 2011 at 3:01 pm

    China is pursuing all options in all places. This is their method and to date it has been successful.

    • politicalrisklatam said, on June 13, 2011 at 4:21 pm

      Yes Mel, you’re right. China is raising their profile aggressively in the region. Thanks for your comment on our blog!
      Keep on reading us to share ideas.
      Political Risk Latam Team


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