Changing Economic Relationships

I found this article in the New York Times interesting as it discusses China’s new quest for the oil reserves in Latin America. This seems specifically interesting, as in class yesterday we discussed how Mexico perceives China as a competitor in the global economy. While the article specifically mentioned China’s interest in Venezuela, Peru, and perhaps eventually Colombia and Bolivia’s oil resources. It seems that Mexico might be of interest as well especially because of its oil reserves off the coast. Perhaps if Mexico and China became more tied economically, Mexico would no longer perceive China as a competitor but as a trade partner. The article also discusses the implications for countries such as Venezuela, who ship 60 % of their oil to the US. This could cause differences in the way in which China and the US relate to each other in the global economy.