China Will Become Latin America'S Second Largest Trading Partner In 5 Years.

In June 21st, in response to the strengthening of economic and trade exchanges between China and Latin America, the German business daily published an article that China would replace Europe as the second largest trading partner in Latin America in the next 5 years.

At the same time, Europe, especially Germany, will be more competitive with China in Latin America.

In the past, Latin America accounted for 13.8% of the total exports to Europe and 7.6% of China's exports.

The Latin American and Caribbean Economic Commission predicts that by 2015, China will surpass Europe; by 2020, Latin American exports to China will account for 20% of all exports.

The products exported to Latin American countries are mainly electronic products, machinery parts and textiles, and the import products are mainly agricultural products and mineral products.

Experts from the United Nations Economic Commission for Latin America and the Caribbean believe that China has become a major strategic business partner in Latin America and the Caribbean.

Experts expect that the two sides will launch large-scale cooperation in mineral resources, energy, agriculture, infrastructure and science and technology. China's direct investment will focus on port expansion, railways, tourism, raw materials development and metal smelting.