By ROLANDO AVENDANO,
ANGEL MELGUIZO, AND SEAN MINER
Angel Melguizo and Rolando Avendano are, respectively, Head of Unit and Economist with the Latin America and Caribbean Unit at the OECD Development Centre. Sean Miner is Associate Director and Fellow, China – Latin America Initiative, at the Adrienne Arsht Latin America Center of the Atlantic Council.
Introduction
China is an emerging power on the world stage, rapidly expanding its influence beyond Asia. Chinese firms are now zeroing in on Latin America, rebalancing the role of traditional partners in the region. China’s engagement abroad is not new, but the resources directed to this “going out strategy” have risen dramatically, increasing China’s global leadership role. This adds up to a major economic and political rebalancing from the West to the East, a phenomenon also known as “shifting wealth.”1