In the last 25 years, China has gone from providing less than 2 percent of Latin America’s exports to being the second largest trade partner for the region and the single biggest trade partner of South America. This skyrocketing trade relation comes on the back of China’s ambitious Belt and Road global infrastructure initiative, and gives Beijing enormous influence in critical emerging markets.
A report this week from the World Bank has set off alarm bells about a coming oil glut that has the potential to seriously disrupt global economics and trade patterns.