Experts think that the US is losing significant ground to China, the world’s second-largest economy, across Latin America
South America, unlike North America, has gained a reputation for being home to many festering conflicts where unstable governments have repeatedly been disrupted by US-backed meddling and military coups. The chronic inequality and disorganised, corruption-ridden economy has empowered leftist groups with an ardent anti-American outlook.
During the recent Americas summit, which was held in Los Angeles for the first time after nearly three decades, there were clear signs of US power having significantly diminished. Four Latin American countries including Mexicociting the fact that Washington refused to invite Cuba, Nicaragua and Venezuela — three outlier countries led by anti-American leftist governments.
Moldovan believes that these countries are attempting to structurally reorient their trade policies towards Asia and implicitly away from the West, favouring countries like China, the world’s second-largest economy. President Joe Biden hosted the Summit of the Americas in Los Angeles. He did not invite Cuba, Nicaragua and Venezuela, leading to countries like Mexico to boycott the meeting.
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