Ecuador’s president Guillermo Lasso is a US-educated, pro-business conservative. But his government has just signed a trade deal with China, and when he secured $1.4bn of debt relief last year, it was from Xi Jinping.“Xi was very understanding,” said Lasso of the Chinese president.
Experts say Ecuador’s experience with China shows how the US and other western countries risk losing further ground in Latin America to Beijing unless they can offer better trade and investment opportunities.
Chinese trade with Latin America has exploded this century from $12bn in 2000 to $495bn in 2022, making China South America’s biggest trading partner.
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