China shops for Latin American oil, food, minerals


CARACAS, Venezuela: Latin America is blessed with a wealth of natural resources such as oil, copper and soy, and needs financing to capitalize on them. China needs commodities to keep its economy growing and has about $3 trillion in reserves to burn.

Those interests have come together in a burgeoning and unorthodox partnership, as China lends and invests tens of billions of dollars in countries around Latin America in return for a guaranteed flow of commodities.

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