At a discussion organized in the U.S. Congress to analyze the influence of China in Latin America, Noriega made these statements in the U.S. Congress during a debate on China’s influence in Latin America, the Deputy Secretary for the subcontinent of the Department of State of United States, Roger Noriega, said that Chinese investments are typically in loans that usually require that the works are made by companies in the Asian country, and warns that with such Chinese investment it will be more competitive in the global market, but at the expense of the economies of Latin America. U.S. officials also emphasize that China is a country concerned which is primarily developing relations with of iron, copper, steel, integrated circuits, electrical machinery, and oil-producing countries.
Perhaps this last that most worries the Bush administration, although already this for coming out and let Obama this inheritance. Latin American countries on the other hand, are intended to counter the influence in their productive sectors of the massive influx of Chinese products in the region; circumstances were also commissioned to put in evidence the U.S. congressmen. According to data provided by the Chairman of the Subcommittee for the Western hemisphere of the lower House, Dan Burton, Chinese imports from Latin America increased 600% between 1999 and 2004 to 21,700 million dollars (16.880 euros). Exports also grew, but considerably less, 245% to reach 18,300 million dollars (14.235 billion euros). Definitely, China is aware of the great potential of economic openness that offers Latin America and knows her leverage, hence it should not surprise us that its incidence economic will be very decisive in our continent, which must be kept alert to make alliances, and not be affected its economy.