The Monroe Doctrine Revisited: China’s Increased Role in Latin America - by Eliot Brockner
Situated on the banks of the Paraná River, Rosario is a mid-size city located approximately 300 kilometers north of Buenos Aires. Its strategic location makes it one of Argentina’s main hubs for international and domestic shipping, which has prompted the emergence of hundreds of local businesses to meet the needs of the city’s one million inhabitants. Many of the owners of these businesses commute from the peripheral southern edge of the city to do business in the vibrant center. Unlike their Bolivian, Paraguayan, and Argentine neighbors, they speak Chinese and hold Chinese passports.
The presence of Chinese communities in cities like Rosario is not surprising. Chinese immigration and adaptability is common worldwide. In 2006, reported Chinese remittances from abroad totaled over $22 billion, and the global Chinese Diaspora is estimated to be 40 million strong. What is noteworthy is the symbolism of their success: the ability of the Chinese to seamlessly integrate and flourish in business climates all throughout Latin America is symbolic in a region ever more open to trade with these business owners’ country of origin. US popularity has sunk to all-time lows. The global financial crisis could turn out to be the straw that broke the camel’s back for US-regulated economic policy in Latin America. Mounting tensions and disillusionment with failed policies and a system that still has not benefited most will only be exacerbated by the collapse of what were once considered sound institutions. As a result, Latin American governments, already warming to China because of China’s huge market potential and need for commodities to fuel their industrial boom, may look farther east.
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