China pledges US$150m investment during visit of El Salvador President to Beijing

China President Xi-Jinping pledged a US$150m investment to finance development projects in El Salvador, though the date of the release of the funds has yet to be confirmed. This new investment was announced during El Salvador President Ceren’s first visit to China since the countries formalised relations in August 2018. The President of El Salvador is quoted as saying, “This historic meeting between the governments of the People’s Republic of China and the Republic of El Salvador has produced excellent results.” He added, “This confirms that the establishment of diplomatic relations with China is my government’s most important decision in foreign policy.” This statement comes amid increasingly critical rhetoric from the Trump administration regarding China’s ongoing efforts to deepen relations with countries in Latin America and the Caribbean (LAC). In reference to Chinese investment in the region, US Secretary of State Mike Pompeo said to media in Mexico City that when Chinese investors “show up with deals that seem to be too good to be true it’s often the case that they, in fact, are”. This stance has drawn criticism from China and some governments in LAC.

 

This is an extract from the Caribbean Council’s fortnightly editorially independent publication, Central America Briefing, which provides in depth information on current economic, political and commercial developments in Central America. Business people, academics, and those with a general interest in Central America find it an invaluable tool for developing and maintaining knowledge and providing an insight into political, economic and commercial events in the region.

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