(AP) — Colombia's government has applied to join a China-based development bank, another sign of Latin America's drift away from the U.S. as the Trump administration's foreign aid cuts, trade barriers and crackdown on immigration spurs many leaders in the region to seek closer ties with Washington's geopolitical rival. Colombian President Gustavo Petro wrapped up a visit to China this... Continue Reading →
As US investment declines, China and India are rapidly expanding their presence across Latin America’s key industries.
(gfmag.com) With US investment in Latin America shrinking, China and India are seizing the opportunity to expand their economic reach in the region. The US remains the largest foreign investor, but its stake dropped nearly 10% in 2023 alone, to 38% of the $224.6 billion total, according to the UN Economic Commission for Latin America... Continue Reading →
Brazil nixes BRICS currency, eyes less reliance on ‘mighty’ dollar
(Reuters) - Brazil's BRICS presidency this year will not advance a common currency for the group of major developing economies this year, four government officials said, but its agenda may pave the way for less reliance on the U.S. dollar in global trade. That agenda could draw the ire of U.S. President Donald Trump, who... Continue Reading →