BUENOS AIRES - The Belt and Road Initiative proposed by Chinese
President Xi Jinping in 2013 is the key to building a shared prosperous
future between China and Latin America, Argentine economist Maria
Cecilia Peralta has said.
China and Latin America have maintained very smooth development of
ties for many years now, "as reflected by the continuous growth in trade
flows, investment and relationship strategies between the two regions,"
said Peralta in a recent interview with Xinhua.
As part of the intercontinental initiative, which seeks to boost
trade and investment among countries along the ancient Silk Road trade
routes from Asia to Europe and Africa, "China is interested in
investing, both in its own economy and in others," she said.
Statistics showed that Chinese banks have participated in more than
2,600 related projects, and issued loans amounting to over $200 billion
since the initiative was first proposed.
The initiative foresees investment in a wide range of areas, from
clean energy to manufacturing, information technology and
communications, hydraulic projects as well as urban development and
housing, among others,said Peralta.
China "is spearheading major projects to change the country's energy
matrix by investing in solar and wind energy. Investment in this area is
not just being done internally, but also at the global level," said
Peralta said the investment in roads, ports and other infrastructure,
designed "to boost connectivity" among countries along the routes, is
part of a larger "strategy to facilitate trade between China and Latin
Official data showed that the two-way trade between China and Latin
America amounted to nearly $260 billion in 2017, up by 18.8 percent
China has made great strides in recent years, said Peralta, adding
that China's "incorporation of populations with better living conditions
has created greater and more diverse demand in the food sector,
generating opportunities for Latin America."
She also said that opportunities abound in myriad productive sectors,
and Argentina, for example, "has been undertaking large-scale
cooperation projects with China for years, and more are planned for the
"The majority of these (projects) are infrastructure projects, like
the construction of dams in the south of the country, of a space station
in Patagonia, and the Agua Negra tunnel that links Argentina to Chile,
an initiative that is very beneficial for regional trade," said Peralta.