In These New Times

A new paradigm for a post-imperial world

Santiago de Chile: the yuan’s financial stronghold in Latin America

Posted by seumasach on September 15, 2015

Voltairenet

15th August, 2015

Economic relations between China and Latin America are living increasing tensions. As a result of deflation (fall in prices) on a global scale, the South American region is suffering the consequences of concentrating the bulk of its exports to China on commodities. However, the opening of the first yuan financial center in Latin America, in Santiago de Chile, agreed during Prime Minister, Li Keqiang’s visit, is bound to attract a number of technological investments which could drive peripheral industrialization and decrease the dollar’s dominance in Southern Cone countries.

 

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