In mid-November, the world's attention will be focused on Latin America and the Caribbean (LAC). Peru will host the annual economic leaders' meeting of the Asia-Pacific Economic Cooperation, a regional forum with 21 members. Brazil will convene the yearly summit of the Group of 20 leading economies. Against the backdrop of an unstable international situation, both events are expected to underscore the importance of inclusiveness and sustainable development.

LAC countries are endowed with abundant renewable energy resources such as solar, wind and hydro power, in which China boasts technological prowess. Prominent examples of cooperation in this sector include Chinese firm Goldwind's investment in several wind farms in Argentina and Chinese automaker BYD's development of an electric vehicle (EV) complex in Brazil, producing EVs as well as lithium iron phosphate batteries. LAC is rich in lithium, the lightest metal on Earth, which is commonly used in rechargeable batteries for EVs.

By the end of 2023, the stock of Chinese investments in the region had exceeded $600 billion, accounting for 20.3 percent of China's total outbound investment across 189 countries and regions, according to official statistics. China-LAC trade amounted to $489 billion last year, compared to $269 billion in 2014. 

E-commerce is also a force to be reckoned with. Chinese online fast-fashion retailer Shein said in 2023 it would invest 750 million reais ($148.9 million) in Brazil in coming years to establish a network involving 2,000 textile manufacturers in the country. Another e-commerce giant JD.com has launched a dedicated section in its online marketplace for signature LAC products, such as beef, wine and coffee. The rise of online platforms has broken down geographical barriers, allowing sellers to easily access global consumers. With minimal startup costs, small businesses can reach customers worldwide. This thriving business model is making a huge difference in facilitating cross-border trade and empowering small businesses.

Chinese President Xi Jinping proposed building a China-LAC community with a shared future a decade ago. This proposal, based on principles such as equality, mutual benefit and common development, is part of China's vision for a global community of shared future. As members of the Global South, China and LAC countries share commitments to peace and development and are constructive participants in global governance. As the world undergoes transformational shifts, stronger cooperation between them is crucial.