China and Latin America Relations: The Win-Win Rhetoric

Abstract

The text analyzes the economic relations between China and Latin America in the context of the capitalist world system. It is argued that as a world power, China has developed a network of economic, trade and financial relations with other economies around the core, the semi-periphery and periphery of the system. The analysis explains the nature of the structure of economic relations between China and Latin America, which is part of China's periphery. The structure of the relationship between China and Latin America is a function of China's development and not of its periphery. In other words, the relationship serves Chinese interests through the unequal relationship in which China exports manufactured goods and high value-added products and imports basic products and commodities from Latin America. To justify this unequal relationship, Beijing argues that both partners are part of the developing world and that the trade structure between the two parties is of mutual benefit. It is what we call "win-win rhetoric". The paper argues that this explanation serves China as a means to hide a bilateral relationship that has a distinct North-South structure and that serves China's own interests. The text further argues that the relationship between the two parties serves China's interests as a world power. Thus, China has a utilitarian relationship with Latin America.