Latin America is perennially used by economists as an example to illustrate the term middle-income trap. China is similar to many Latin American nations in a number of ways： All are developing countries and emerging economies and all face the challenge of overcoming the middleincome trap.
During his trip， Premier Li signed and discussed a large number of agreements and projects with the leaders of the countries he visited， reflecting the fact that China is trying to promote cooperation with Latin America using a comprehensive approach. Their collaboration is now poised to expand from mining， energy and agriculture to finance， science and technology， aerospace and emerging industries. Particularly noteworthy was the decision to launch a feasibility study on transcontinental railway construction， which will give a strong push to trade growth and development in Latin America.
These newly achieved agreements have brought opportunities to both sides. Strong demand exists in Latin America for China’s technology and capital with respect to improving infrastructure conditions， expanding industries and advancing economic development. Meanwhile， China could promote cooperation and foster mutual trust between itself and Latin America through increasing investment in the region.
Respecting cultural spanersity is the guiding phrase when it comes to peopleto-people exchanges. The communication of the two sides is characterized by equality and the desire of each side to learn from the other. China won’t attach values and political caveats in its cooperation with Latin America.
With a new cooperation blueprint between China and Latin America and the Caribbean already mapped out during Chinese President Xi Jinping’s state visit to the region last year， Premier Li’s tour this May has further bolstered economic， trade and cultural cooperation， and provided new momentum for the building of a lasting partnership.