China's pile of cash finds Latin America's treasure



http://www.chron.com/disp/story.mpl/business/energy/7603791.html

CARACAS, Venezuela — Latin America is blessed with a wealth of natural resources such as oil, copper and soy, and it seeks investment and loans to capitalize on them. China needs the 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, particularly oil.

Recent deals have made China a key financier to the governments of Venezuela and Argentina. At the same time, Chinese companies have secured a decade's worth of oil from Venezuela and Brazil and steady supplies of wheat, soybeans and natural gas from Argentina.
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