From 2001 to 2018, Venezuela has received $67.2 billion
from China. More recently, these investments served as a lifeline for President Maduro as the country slipped into economic crisis.
Although a member of the Chinese-led BRI, investments into Venezuela have significantly declined since the death of former President Hugo Chávez, made evident by China’s $21.4 billion loan in 2010, which decreased to $5 billion in 2018.
However, current President Bolsonaro presented a strong anti-China rhetoric
during his campaign, despite the $29.8 billion Brazil had received by 2018. This relationship has potential to improve, however, as Brazil is hosting the BRICS (Brazil, Russia, India, China, South Africa) Summit in November. In addition, President Bolsonaro has accepted an invitation to visit China in the second half of this year.
Although it is one of the smallest Latin American nations, Ecuador has received $18.4 billion from China since 2009. A majority of these deals were agreed with former President Rafael Correa, including a decisive deal that would send 90% of Ecuador’s crude oil to China until 2024.
reported that current President Lenín Moreno travelled to China in December 2018 to obtain a $900 million loan, despite the fact that he hasn’t compromised future Ecuadorian oil. The country currently owes China $6.5 billion.
Argentina has received $16.9 billion from China over the last twenty years, with many agreements linked to agriculture.
Historically, China has been the largest importer of Argentine soy since 2000. In 2018, President Mauricio Macri signed 30 agricultural and investment deals with China worth over $5 billion.