US Seeks New Tools to Compete With China in Latin America
- Biden administration pursues changes to development agency
- China’s presence requires smart US response, NSC director says
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The US needs new tools in order to build on its network of free-trade agreements and compete with China in Latin America, a top Biden administration official said Thursday.
The administration intends to strengthen the US position in the region through changes to the Development Finance Corporation, its development agency for lower- and middle-income countries, according to Juan Gonzalez, the US National Security Council senior director for the Western Hemisphere.