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Posts Tagged 'Wuhan Iron & Steel’s'

China and Latin America Strengthen Economic Ties

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China and Latin America converge economically. Most of the recent deals have been in the extraction of natural resources, such as Sinopec’s US$7.1 billion-deal for YPF’s Brazilian unit; Chinalco’s $2.16-billion deal with the Toromocho Copper Mine, in Peru; CNOOC’s $3.1-billion deal for a 50-percent stake in Argentina’s Bridas Corp; and Wuhan Iron & Steel’s $400mn investment in MMX. However, it has not all been about natural resources. China eyes the growing markets of Latin America as well as other investment opportunities. Case in point include Foxcon’s $10 billion investment in Brazil to manufacture the next generation of iPads, and China New Machine Energy’s Jaguar Energy Guatemala plant.

The Chinese Government support approves these deals and provide financing through the China Development Bank (CDB), and The Export-Import Bank of China ...

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