China-Latin America relations have entered a new phase with the commodity super-cycle over and Chinese growth decelerating. China is looking to diversify its engagement through new financial institutions such as the Asian Infrastructure Investment Bank (AIIB) and the China-led New Development Bank (the so-called BRICS bank) as well as various multilateral funding platforms.
China's regional influence will grow, especially if Washington retreats from its leadership role in regional and global institutions.
The new scenario offers Latin America an opportunity to be more proactive in shaping the next phase of the relationship with China.
Latin American governments need to craft strategies to address China's protectionist barriers and reignite trade amid low commodity prices.
