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Ariel Noyola Rodríguez – China-Latin American Relations, Santiago De Chile: The Yuan’s Financial Stronghold

Economic relations between China and Latin America are living increasing tensions. As a result of deflation (fall in prices) on a global scale, the South American region is suffering the consequences of concentrating the bulk of its exports to China on commodities. However, the opening of the first yuan financial center in Latin America, in Santiago de Chile, agreed during Prime Minister, Li Keqiang’s visit, is bound to attract a number of technological investments which could drive peripheral industrialization and decrease the dollar’s dominance in Southern Cone countries.

During his visit to Brazil, Colombia, Peru, and Chile, the Prime Minister Keqiang advanced Chinese influence in Latin America by fulfilling 2 fundamental goals: transforming the region’s economic map to underpin Chinese prominence, and driving the yuan’s prominence on South American territory with Santiago de Chile as the launching pad.

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