US leader’s farewell trip to Brazil and Peru epitomises Washington’s waning influence
Two recent photographs tell the story of the battle for primacy between the US and China in one of the world’s most resource-rich regions. In both images, President Xi Jinping stands front and centre, flanked by his Latin American host. President Joe Biden, on the other hand, lingers near the end of the back row in one picture and is absent from the other. Naturally, there are official explanations.
The US leader visited the Amazon on his way to Rio and announced a $50mn donation to a conservation fund, while Xi was expected to focus on multibillion-dollar Chinese investments. China’s trade with Latin America has mushroomed over the past two decades from $12bn in 2000 to $450bn in 2023. Beijing is now the main trading partner for most nations in the region and has the fastest-growing stock of investments.
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