CHINA-ARGENTINA: CHINA STEADILY ENLARGES FOOTPRINT IN SOUTH AMERICA AND DEEPENS RELATIONS WITH ARGENTINA

Argentina's LaNacion (March 23) reported that over the past decade, China has financed and built a major railroad and solar, wind and nuclear energy projects and has swapped $19 billion in currency to help Buenos Aires through a major financial crisis. In exchange, Argentina opened its markets and industries to Chinese goods and investment. China has invested heavily in Argentina’s beef and agro-industry; China’s COFCO is now Argentina’s leading agro-industrial exporter. The Shanghai Dredging Company, a subsidiary of state-owned multinational China Communications Construction Company, plans to bid on the project to dredge the Paraná-Paraguay river system. China’s relationship with Argentina is also strategic. The financial bailout deal included permission to build a space research and satellite-tracking station, run by the People’s Liberation Army (PLA), in Argentina’s high desert province of Neuquén. Recent talks include the potential sale of Chinese fighter jets and armoured vehicles and the refurbishment of an Argentine naval base in the far south capital of Ushuaia.







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