![]() is still a most influential member of the bank. ![]() The IDB’s president, Ilan Goldfajn, told The Associated Press that the U.S. China claims Taiwan as its own territory and has been increasingly sending ships and warplanes across the Taiwan Strait in an effort to intimidate the population of 23 million, who strongly favor the status quo of de-facto independence. In March, Honduras cut diplomatic ties with Taiwan in favor of China, following the steps of El Salvador, Nicaragua, Panama and the Dominican Republic in turning their backs on Taiwan. In 2022, Latin American and Caribbean trade with China rose to record levels, exporting roughly $184 billion in goods to China and importing an estimated $265 billion in goods, according to a Boston University Global Development Policy Center analysis.Īnd diplomatic relations between Latin America and China have also increased. While the Asian superpower holds less than 0.1% voting rights, it holds large economic stakes in some of the 48 member countries of the bank. have expressed concern about China’s influence at the bank. is the bank’s largest shareholder, with 30% of voting rights. The Inter-American Development Bank, which is the biggest multilateral lender to Latin America, would support new projects through grants, lending and new programs. “Medical equipment and pharmaceutical companies can grow and innovate to meet increased demand,” Yellen said, and skilled workers can produce automotive chips necessary for electric vehicles. Latin American businesses “will increasingly have the chance to lead in new areas of clean energy, for example, helping create vertical supply chains by using locally extracted lithium in local battery production,” Yellen said. investment in South America at the development bank on Thursday. Yellen, who regularly talks about her “friendshoring” strategy for increasing supply chain resilience by working primarily with friendly nations as opposed to geopolitical rivals like China, laid out her vision of new U.S.
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