Winning the renewable energy race is essential to who controls the narrative and sets global standards. From the annual UN General Assembly meetings to the G20 and The BRICS to (now the “Expanded BRICS”) highlight how nations place importance on developing alternative forms of energy— solar being a key example— and creating competitive ecosystems are redefining traditional and non-traditional industries and geopolitical alliances. This is the new global architecture in solar energy. Dynamics in the Western Hemisphere, a once bastion and a symbol of America’s global influence, have changed in the past two decades. A lack of concerted attention from the U.S. government and private actors has prompted Latin America and the Caribbean (LAC) governments to look east for development assistance and a more reliable trade partner. On September 13th, Chinese President Xi and Venezuelan President Maduro upgraded their relationship to an “All weather strategic partnership” and signed agreements in economy, trade and tourism, science and technology, civil aviation, and aerospace. The lure of Chinese capital is too attractive for nations in the region to ignore. Data from the IMF, show for two decades, China has surpassed the United States as South America’s largest trading partner.
However, trade data from the World Bank suggests that The US is still Latin America’s largest trade partner.
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