<p>Beijing: China will always be Latin America's "trustworthy" friend and partner, its foreign minister told his Bolivian counterpart, as Beijing and Washington look to firm their respective footholds in a region historically under the US sphere of influence.</p><p>"Latin America is the home of the Latin American people, and is not any country's 'backyard,'" Chinese Foreign Minister Wang Yi said during a meeting at the United Nations on Tuesday, according to a statement from his ministry.</p><p>China wants to "continuously elevate the China-Bolivia strategic partnership", Wang told Bolivia's Foreign minister Celinda Sosa.</p>.China supports all Ukraine peace efforts, Gaza is not a 'bargaining chip', says Wang. <p>Bolivia, which established diplomatic ties with Beijing in 1985, is among many countries in South America that have bonded economically with China through debt and investment.</p><p>The resource-rich country owes China, the world's biggest bilateral lender, over $1.7 billion according to World Bank data. Chinese firms have invested a further $6 billion, statistics from the American Enterprise Institute think tank show, mostly in Bolivia's metals, energy and transport sectors.</p><p>US foreign direct investment in Bolivia stands at around $430 million, US State Department data shows, predominantly in the oil and gas and manufacturing sectors.</p><p>The US and China look set to go toe-to-toe in Central and South America over US President Donald Trump's second term, with Chinese investments in the region, particularly in energy and infrastructure, challenging US influence.</p><p>Trump took little time in taking Panama to task over the Central American state's ties to China after taking office, dispatching Secretary of State Marco Rubio with the message: end China's influence over the Panama Canal or face US action.</p><p>Panama's President Jose Raul Mulino later said his country would not renew its membership of Chinese President Xi Jinping's flagship Belt and Road Initiative, to Beijing's chagrin.</p><p>Trump had refused to rule out the use of military force to take back the Panama Canal in the run up to Rubio's visit.</p><p>"China supports Latin American countries in defending their sovereignty, independence and national dignity," Wang said.</p>.Xi Jinping’s love-hate relationship with China’s private sector.<p>He also congratulated Bolivia on becoming a member of BRICS, a group of developing nations founded by Brazil, Russia, India, China to rival a Western-dominated world order. The group has since grown to also include South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.</p><p>Trump has repeatedly warned the BRICS not to challenge the dominance of "the mighty US dollar," and threatened members with a 100 per cent tariff "if they want to play games with the dollar."</p>
<p>Beijing: China will always be Latin America's "trustworthy" friend and partner, its foreign minister told his Bolivian counterpart, as Beijing and Washington look to firm their respective footholds in a region historically under the US sphere of influence.</p><p>"Latin America is the home of the Latin American people, and is not any country's 'backyard,'" Chinese Foreign Minister Wang Yi said during a meeting at the United Nations on Tuesday, according to a statement from his ministry.</p><p>China wants to "continuously elevate the China-Bolivia strategic partnership", Wang told Bolivia's Foreign minister Celinda Sosa.</p>.China supports all Ukraine peace efforts, Gaza is not a 'bargaining chip', says Wang. <p>Bolivia, which established diplomatic ties with Beijing in 1985, is among many countries in South America that have bonded economically with China through debt and investment.</p><p>The resource-rich country owes China, the world's biggest bilateral lender, over $1.7 billion according to World Bank data. Chinese firms have invested a further $6 billion, statistics from the American Enterprise Institute think tank show, mostly in Bolivia's metals, energy and transport sectors.</p><p>US foreign direct investment in Bolivia stands at around $430 million, US State Department data shows, predominantly in the oil and gas and manufacturing sectors.</p><p>The US and China look set to go toe-to-toe in Central and South America over US President Donald Trump's second term, with Chinese investments in the region, particularly in energy and infrastructure, challenging US influence.</p><p>Trump took little time in taking Panama to task over the Central American state's ties to China after taking office, dispatching Secretary of State Marco Rubio with the message: end China's influence over the Panama Canal or face US action.</p><p>Panama's President Jose Raul Mulino later said his country would not renew its membership of Chinese President Xi Jinping's flagship Belt and Road Initiative, to Beijing's chagrin.</p><p>Trump had refused to rule out the use of military force to take back the Panama Canal in the run up to Rubio's visit.</p><p>"China supports Latin American countries in defending their sovereignty, independence and national dignity," Wang said.</p>.Xi Jinping’s love-hate relationship with China’s private sector.<p>He also congratulated Bolivia on becoming a member of BRICS, a group of developing nations founded by Brazil, Russia, India, China to rival a Western-dominated world order. The group has since grown to also include South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.</p><p>Trump has repeatedly warned the BRICS not to challenge the dominance of "the mighty US dollar," and threatened members with a 100 per cent tariff "if they want to play games with the dollar."</p>