China’s Takeover of South America

According to China Times Magazine, China will replace the European Union as South America’s most important trading partner by 2015. Currently, Asia accounts for more than 25% of South America’s total trade. With poverty levels dropping to their lowest in 20 years in the region, Latin America is fast becoming an open market for both investors and consumers. As Europe and USA battle with political and economic turmoil, they are falling behind in taking advantage of South America’s ongoing development. In addition, China’s swift industrial growth is causing the country to be in a perpetual quest for natural resources such…