CNBC quotes Adrienne Arsht Latin America Center Deputy Director Jason Marczak on Chinese investment in Argentina and Brazil:
Argentina and Brazil are the two standouts when it comes to Chinese investment, according to Jason Marczak, deputy director of the Latin America Center at Atlantic Council, an international policy center. But Argentina’s 35 cooperation agreements with China come for a very different reason than Brazil’s. Two defaults over the last 14 years have made it exceedingly difficult for Buenos Aires to find lenders.
“We’ve basically seen Argentine PresidentCristina Fernandez de Kirchner in Beijing with hat in hand for necessary funding,” Marczak said. “As they are shut off from other capital markets, China is really the lender of last resort for Argentina.”