As our country continues in its government-induced recession, we would do well to reflect on China’s continuing economic success.
China has passed some important milestones recently. Last year it overtook Germany as the world’s third largest economy. Earlier this year it overtook the United States in domestic car sales. Now, according to The Telegraph of London, China has just surpassed the United States as Brazil’s largest trading partner: monthly total trade between Brazil and China has hit $3.2 billion, exceeding by almost half a billion dollars that between Brazil and the United States. Considering that the United States was Brazil’s biggest trading partner for upwards of eight decades, this is a big change.
The Telegraph also notes that China is now Chile’s biggest trading partner. And China is naturally close to the four leftist regimes of South America (Bolivia, Ecuador, Peru, and Venezuela).
In sum, it would appear that China has been moving steadily towards replacing the United States as the primary foreign power in Latin America. Given our trajectory and theirs, this is not apt to change any time soon.