RE: IPA is key16 Nov 2023 10:37
All the while Ecuador continues to cozy up with China
“Other countries in South America are intent on reaping the benefits of closer economic ties with China. Last January, Brazilian President Luiz Inácio Lula da Silva voiced his support for a prospective trade agreement between China and Mercosur, the trade bloc that also includes Uruguay, Argentina, and Paraguay. While talks for such an agreement have not started yet (and for a variety of reasons, including a lack of progress in implementing the bloc’s deal with the European Union, Paraguay’s non‐existent diplomatic relations with China and continued recognition of Taiwan, and the region’s ongoing de‐industrialization, may not materialize in the foreseeable future) the motivation for Brazil and other South American countries to enter into agreements with Beijing is clear: the region’s total trade with China has grown faster than trade with the United States in recent years. Moreover, China has already negotiated agreements with Chile, Peru, and most recently Ecuador”
https://www.cato.org/blog/china-fills-trade-void-us-international-economic-leadership-retreats