The socioeconomic and political relationship between Latin America and the Caribbean (LAC) with China has become increasingly significant for both since the beginning of the 21st century. This article analyzes proposals by the United States and China in their bilateral relationship and the political effects of their increasing tensions on LAC. Consistent with the proposed framework of analysis of the socioeconomic LAC–China relationship—at least in terms of trade, financing, overseas foreign direct investments, and infrastructure projects—the article examines in detail these conditions, as well as providing an in-depth example of trade. The final part of the article discusses the important potential and challenges of China for LAC’s development and concludes that so far, and based on the in-depth analysis of the trade relationship, the LAC–China relation is closer to a core-periphery than to a South–South or win–win strategy.
The document proposes to understand that the political economy within the United States, particularly of its private sector, have shifted substantially against China. In addition, the structure for analysis of the LAC-China relationship in the 21st century with a concrete structure of analysis in terns of trade, financing, Chinese overseas foreign direct investments (OFDI) and infrastructure projects. In light of current discussions, the analysis suggests for the inclusion of a group of new concepts –such as the “the new triangular relationships” and the “globalization process with Chinese characteristics” with a group of effects in LAC. The impact of the increasing China-United States tensions, from this perspective, generates massive challenges in LAC, independently of their diplomatic relationships to China.
Toward a Systemic View to Cost Overrun Causation in Infrastructure Projects: A Review and Implications for Research
