Latin America is perennially used by economists as an example to
illustrate the term middle-income trap. China is similar to many
Latin American nations in a number of ways: All are developing
countries and emerging economies and all face the challenge of
overcoming the middle-income trap.
Against this backdrop, Chinese Premier Li Keqiang focused on the
themes of promoting cooperation, mutual learning, and common
development during his official visit to Brazil, Colombia, Peru and
Chile from May 18 to 26.
During his trip, Premier Li signed and discussed a large number
of agreements and projects with the leaders of the countries he
visited, reflecting the fact that China is trying to promote
cooperation with Latin America using a comprehensive approach.
Their collaboration is now poised to expand from mining, energy and
agriculture to finance, science and technology, aerospace and
emerging industries. Particularly noteworthy was the decision to
launch a feasibility study on transcontinental railway
construction, which will give a strong push to trade growth and
development in Latin America.
These newly achieved agreements have brought opportunities to
both sides. Strong demand exists in Latin America for China's
technology and capital with respect to improving infrastructure
conditions, expanding industries and advancing economic
development. Meanwhile, China could promote cooperation and foster
mutual trust between itself and Latin America through increasing
investment in the region.
Respecting cultural diversity is the guiding phrase when it
comes to people-to-people exchanges. The communication of the two
sides is characterized by equality and the desire of each side to
learn from the other. China won't attach values and political
caveats in its cooperation with Latin America.
With a new cooperation blueprint between China and Latin America
and the Caribbean already mapped out during Chinese President Xi
Jinping's state visit to the region last year, Premier Li's tour
this May has further bolstered economic, trade and cultural
cooperation, and provided new momentum for the building of a