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China's growing ties with Latin America are back in the spotlight, as President Xi Jinping made a trip to Peru and Brazil on multiple missions. China says it is committed to forging friendly, mutually beneficial relations with Latin America with no strings attached. However, strategic rivalry is the mindset with which the US is viewing China's presence in the region. Some US officials are openly warning that China is “on the 20-yard line to our homeland”.What is bringing China and Latin America closer? Is the US getting too sensitive about China-Latin America relations? Host Ding Heng is joined by Pedro Steenhagen, PhD candidate in International Politics at Fudan University, and Director of Development at Observa China; Dr. Zhou Mi, Senior Research Fellow at Chinese Academy of International Trade and Economic Cooperation; Sultan Hali, a retired Pakistani Air Force officer and China observer.
China-Latin America relations have come a long way in the past few decades. What's the current state of relations between China and Latin America and Caribbean countries? Where are the relationships headed in the foreseeable future? And how do Latin Americans see the relationships?
President Xi Jinping's trip to Latin America for multilateral gatherings and bilateral talks has fueled expectations that China will continue championing inclusive growth and better global governance and further solidify ties with key partners in the vibrant region.Xi embarked on the landmark trip to Peru and Brazil on Wednesday, his sixth visit to the region since 2013, for the 31st APEC Economic Leaders' Meeting in Lima and the 19th G20 Summit in Rio de Janeiro. He will also make state visits to the two nations.Analysts said that Xi's visit will provide a key opportunity to deepen collaboration with major economies, forge consensus on shared development goals, and foster new momentum for global economic integration, while contributing to the evolving multipolar world order.Cui Shoujun, founder and director of the Center for Latin American Studies at Renmin University of China, said the presence of the Chinese president at the two key economic forums showcases Beijing's unequivocal support for multilateralism."China advocates addressing global issues through consultation and cooperation and opposing unilateralism and protectionism. This approach fosters unity between developing and developed countries, prompting them to jointly seek a win-win solution for global governance," Cui said.Analysts said that Beijing's position will resonate strongly with the theme of the APEC Economic Leaders' Week this year, which named trade and investment for inclusive growth, digital innovation and sustainable and resilient development as its priorities.In his remarks at the 30th APEC leaders' meeting in 2023, Xi emphasized the importance of innovation, openness, green development and inclusive growth as key drivers to usher in another "golden 30 years "for the region.Cui said that China "promotes economic integration within the Asia-Pacific region through APEC, providing practical solutions for issues such as connectivity, digital economy and green development among member economies".Carlos Vasquez, the 2024 chair of the APEC Senior Officials' Meeting, said in a statement that the 31st APEC Economic Leaders' Meeting aims to provide greater policy direction for APEC members to deliver an environment that facilitates trade, harnesses regional economic integration and technologically driven growth, and sparks business innovation and employment.As for the G20 Summit, expectations are running high for Beijing to continue advocating reform in global economic governance and proposing to enhance the voice and participation of developing countries within the international financial system."China's inclusive proposals have now won the backing of the developing world and further enhanced the balance and stability of the global governance system," said Cui from Renmin University of China.Brazil, the host of the G20 Summit this year, has listed the fight against hunger, poverty and inequality, as well as the sustainable development of economy, society and environment and the reform of global governance, as priorities.The opening of the summit on Monday will be marked by the launch of the Global Alliance Against Hunger and Poverty, a Brazilian initiative that will mobilize countries and international organizations to accelerate efforts to combat hunger and poverty by 2030, according to a statement released by the Brazilian government.Zhou Zhiwei, a senior research fellow at the Institute of Latin American Studies at the Chinese Academy of Social Sciences, said that China and Brazil share a wide range of consensus points on global governance, and the unified stance between the two emerging countries is essential for formulating joint proposals for the Global South."The alignment between China and Brazil on the upcoming G20 Summit's three priority issues is not only pivotal for the Global South, but also for the future of global economic governance," he said.The two nations have also jointly issued a six-point proposal on pushing for the political settlement of the Ukraine crisis and calling for the de-escalation of the situation. The proposal has received widespread support from the international community.China is the first major country to support the accession of the African Union to the G20, while Beijing has also long advocated bridging the "digital divide" between the Global North and the Global South, and advancing reforms in the international financial structure.The trip is also expected to inject fresh impetus into the building of a China-Latin America community with a shared future.China stands as the region's second-largest trading partner as well as the largest trading partner for many countries in Latin America and the Caribbean, having signed free trade agreements with five nations and now engaging in high-quality Belt and Road cooperation with 22 countries.The areas of collaboration have steadily expanded beyond traditional sectors such as trade, finance and infrastructure, to now include emerging fields such as energy, digital technology and aerospace, Lin Jian, a spokesman for the Foreign Ministry, said at a news briefing on Tuesday."China has always been a trusted true friend and good partner to Latin American and Caribbean countries and their people, and the relationships have entered a new era of equality, mutual benefit, innovation, openness and people-centered development," he said.Analysts also highlighted the win-win nature of cooperation with Peru and Brazil and the immense potential for China to scale up the cooperation.Xi will be making his second state visit to Peru, a country with robust trading ties with China. China is Peru's largest global trading partner, its largest export market, and its largest source of imports, while Peru is China's fourth-largest trading partner in Latin America."China has consistently taken a proactive approach to promoting mutually beneficial cooperation with Peru," said Cui, from the Center for Latin American Studies at Renmin University of China. "Bilateral cooperation has developed into a comprehensive, multilevel and wide-ranging framework, with the relationship serving as a model for friendly cooperation between China and Latin America."During talks with visiting Peruvian President Dina Ercilia Boluarte Zegarra in June, Xi named Chancay Port, a mega port constructed by a Chinese company, as a new maritime hub linking Latin America with Asia, aiming to make the "Chancay-to-Shanghai "route a true path to shared prosperity and development for China and Peru.Zhou, from the Chinese Academy of Social Sciences, said the port, another landmark project under the Belt and Road Initiative, will significantly cut logistics costs, elevate ties between Beijing and Lima, and make Peru a key hub for China's cooperation with Latin America.He also pointed out that cooperation on science and technology could emerge as a new growth engine for ties between China and Brazil."The frequent interactions between President Xi and the leaders of Brazil and Peru demonstrate strong political mutual trust," he said. "This latest round of high-level diplomacy is expected to further enhance China's ties and cooperation with both countries."
In this special episode of Chat Lounge, we examine the Asia-Pacific Economic Cooperation, or APEC, to review its path toward inclusive cooperation and explore how it can drive growth in the Global South.Peru will host the annual APEC summit from November 10th to 16th this year under the theme "Empower, Include, Grow."What key issues will be discussed at the summit? What business opportunities can China and Latin American countries explore to support growth in the Global South? And how can common challenges such as inequality and climate change be addressed through innovation and technology?Host Xu Yawen is joined by Edgar Perez, American-Peruvian business author and keynote speaker on artificial intelligence and new technologies; Maria Sanhueza, a Chilean journalist; and Alasdair Baverstock, a CGTN correspondent in Mexico, to discuss these issues.
The first China-Latin America and Caribbean States Roundtable on Human Rights was held on Tuesday in Rio de Janeiro, Brazil, to expose the double standards and hypocrisy applied in human rights by some countries. The event also provided a platform for countries to share and learn from each other on protecting human rights through development. What are the experiences of Latin American and Caribbean countries in this regard? What consensus emerged from the event? And can it make a difference in people's lives?
① What is the goal of Spanish Prime Minister Pedro Sanchez's 4-day visit to China? (00:47)② The US House of Representatives has passed legislation that would blacklist Chinese biotech companies and their US subsidiaries. We explore why this bill is controversial – even disruptive – in many aspects. (13:50)③ We take a look at Huawei's new tri-fold smartphone model and the ongoing race in the market for this phone model. (24:58)④ Israel has proposed giving Hamas leader Yahya Sinwar safe passage out of Gaza in exchange for the group releasing hostages and giving up control of the strip. Will Hams accept it? (35:02)⑤ Brazil has hosted the first China-Latin America human rights roundtable. Why are human rights issues a possible source of unity between China and Latin America? (43:20)
In the past few weeks, China's relations with Latin America and the Caribbean have been making headlines. Newsweek published an exclusive story about plans to create a Chinese-run special economic zone on the island of Antigua that will have a port, a dedicated airline, its own customs and immigration procedures, and be able to issue passports. An international crypto services zone will offer opportunities to participate in cryptocurrency operations from mining to dealing.The Americas Quarterly reported that China has expressed interest in building a port complex near the Strait of Magellan at the southern tip of South America, which is considered the most important natural passage between the Atlantic and Pacific Oceans. From there, according to the Americas Quarterly, Beijing could grow its presence in the region and also project influence in Antarctica.And in late April, China held the first China-Latin American and Caribbean States Space Cooperation Forum, which opened with a congratulatory letter from Xi Jinping applauding the high-level space cooperation partnership in which he emphasized the benefits of marrying China's mature space technology with the unique geographic advantage of the countries in the Latin America and Caribbean region.To discuss Chinese interests in and strategy toward the Latin America and Caribbean region–known as the LAC–host Bonnie Glaser is joined by Leland Lazarus. He is the Associate Director of National Security at Florida International University's Jack D. Gordon Institute of Public Policy and an expert on China-Latin America relations. He formerly served as the Special Assistant and Speechwriter to the Commander of US Southern Command and as a State Department Foreign Service Officer, with postings in Barbados and China. Timestamps[02:30] China's Interest in LAC Countries[04:44] Implementation of BRI in LAC Countries[07:23] China's Investment in Energy Development[09:39] Huawei's Penetration into LAC Countries[11:57] Role of Perú in Beijing's Regional Strategy[14:56] China-LAC Cooperation in Space[20:56] Receptivity of China to LAC Countries[25:30] How should the US compete against China in LAC?
China’s Rise as a global economic powerhouse is one of the most consequential events of our time. This meteoric ascent challenges the existing world order, and in response, China has strategically harnessed its cultural diplomacy to bolster its influence worldwide. In this episode of „Die Kulturmitter:innen – Deep Dive“ we speak with Ximena Zapata, a specialist in China-Latin America relations and international cooperation in Latin America. She just published a study about China's cultural diplomacy and its way to achieve its ambitious objective of consensual hegemony. If you want to read the whole study of Ximena Zapata, click here: https://culturalrelations.ifa.de/forschung-detail/chinas-cultural-diplomacy-multilateralism/
China and Venezuela elevated their ties to an all-weather strategic partnership on Wednesday, as the countries agreed to advance cooperation on the joint building of the Belt and Road, economy and trade, education, tourism, science and technology, health, aerospace and civil aviation.PresidentXi Jinping and Venezuelan President Nicolas Maduro Moros jointly announced the elevation of the countries' ties, and witnessed the signing of the agreements after their talks at the Great Hall of the People in Beijing. The two countries issued a joint statement on the establishment of the all-weather strategic partnership.Maduro is making a weeklong state visit to China at the invitation of PresidentXi. The visit, which runs through Thursday, marks his fifth trip to China as Venezuelan president. It also took him to Shenzhen, Guangdong province, as well as Shanghai and Shandong province.During their talks,Xi spoke highly of the development of China-Venezuela relations in recent years, saying that the two countries are good friends who trust each other and are good partners for common development.He told Maduro that China has always viewed its relationship with Venezuela from a strategic and long-term perspective, firmly supporting Venezuela's efforts to safeguard national sovereignty, dignity and social stability, as well as its efforts to oppose external interference.Both sides should push for more fruitful results in China-Venezuela strategic cooperation, bringing more benefits to the two peoples and injecting more positive energy into world peace and development, he added.Xi briefed Maduro about China's reform and opening-up, especially the construction of special economic zones. He noted that reform and opening-up is an important instrument for China to catch up with the times in great strides and a crucial move in making China what it is today.“China cherishes the valuable experience gained in this process and will continue to advance reform and opening-up. No force can stop China's progress and development,” Xi said.Noting that China supports Venezuela in establishing special economic zones,Xi said that the nation is ready to share relevant experiences to help advance Venezuela's development.As next year marks the 50th anniversary of the countries' diplomatic ties,Xi called on both sides to enhance cultural and people-to-people exchanges and promote practical cooperation in various fields.China is willing to import more high-quality and distinctive Venezuelan products,Xi said.He congratulated Venezuela on becoming the first country in Latin America to join the International Lunar Research Station project, which was initiated by China.Both countries should closely cooperate in multilateral mechanisms such as the United Nations and the Group of 77 and China, and strengthen unity and cooperation with other developing countries to safeguard the purposes and principles of the UN Charter and the common interests of developing countries,Xi said.Highlighting that China attaches great importance to the development of China-Latin America relations, he said that the nation is willing to work with Venezuela and other countries in Latin America to promote overall cooperation between China and the region, and to jointly build a community with a shared future.Maduro said that China has become a great country dedicated to peace, development and the wellbeing of all humanity, as well as an important engine for promoting a new multipolar world.He said that his state visit to China and the elevation of Venezuela-China relations to an all-weather strategic partnership are of historical significance and will usher in a new era for bilateral relations.Venezuela actively supports the China-proposed Belt and Road Initiative, as well as the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, Maduro said, adding that his country is willing to closely communicate and cooperate with China within multilateral frameworks, such as the UN and the BRICS mechanism, to uphold multilateralism and the legitimate interests of developing countries.In the joint statement, Venezuela reaffirms its interest in joining BRICS, and China says it welcomes Venezuela's positive intention and supports efforts to achieve this goal.Reporter:Cao DeshengAll-weather strategic partnershipn.全天候战略合作伙伴Diplomatic tie英/ˌdɪpləˈmætɪk taɪ/美/ˌdɪpləˈmætɪk taɪ/n.外交关系International Lunar Research Station projectn.国际月球科研站
During the first Cold War, a large group of developing countries sought to distance themselves from the ideological battle between the United States and the Soviet Union to create a Non-Aligned Movement.Today, three decades later, at the dawn of yet another Great Power competition, this time between the U.S. and China, Global South countries are once again saying they don't want any part of it.Jorge Heine, a former Chilean ambassador to China and now a research professor at Boston University joins Eric & Cobus to discuss the new book he co-edited about how this new movement is taking root in the Americas, Asia, and Africa.Show Notes:Amazon: Latin American Foreign Policies in the New World Order: The Active Non-Alignment Option: https://amzn.to/3lJrQ7qThe Conversation: When two elephants fight: how the global south uses non-alignment to avoid great power rivalries by Adekeye Adebajo: https://bit.ly/3YC3PO7JOIN THE DISCUSSION:Twitter: @ChinaGSProject| @stadenesque | @eric_olander | @jorgeheinelFacebook: www.facebook.com/ChinaAfricaProjectFOLLOW CAP IN FRENCH AND ARABIC:Français: www.projetafriquechine.com | @AfrikChineعربي: www.akhbaralsin-africia.com | @AkhbarAlSinAfrSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
During the first Cold War, a large group of developing countries sought to distance themselves from the ideological battle between the United States and the Soviet Union to create a Non-Aligned Movement.Today, three decades later, at the dawn of yet another Great Power competition, this time between the U.S. and China, Global South countries are once again saying they don't want any part of it.Jorge Heine, a former Chilean ambassador to China and now a research professor at Boston University joins Eric & Cobus to discuss the new book he co-edited about how this new movement is taking root in the Americas, Asia, and Africa.Show Notes:Amazon: Latin American Foreign Policies in the New World Order: The Active Non-Alignment Option: https://amzn.to/3lJrQ7qThe Conversation: When two elephants fight: how the global south uses non-alignment to avoid great power rivalries by Adekeye Adebajo: https://bit.ly/3YC3PO7JOIN THE DISCUSSION:Twitter: @ChinaGSProject| @stadenesque | @eric_olander | @jorgeheinelFacebook: www.facebook.com/ChinaAfricaProjectFOLLOW CAP IN FRENCH AND ARABIC:Français: www.projetafriquechine.com | @AfrikChineعربي: www.akhbaralsin-africia.com | @AkhbarAlSinAfr
China's two-way trade with countries in the Americas increased 8% last year to $486 billion, nearly twice the volume of what China does in Africa. South America is now a vital source of food, energy, and strategic minerals for China, while markets like Brazil are attracting record amounts of Chinese investment.Meantime, China's growing presence in Latin America and the Caribbean region is also making the U.S. increasingly uncomfortable given that many people in Washington, D.C. still believe that the Western hemisphere remains America's traditional sphere of influence.But despite China's enormous economic engagement in the region and the geopolitical concerns in the U.S., Pepe Zhang, a senior fellow at The Atlantic Council and one of DC's top China-Americas watchers, contends that China's surging influence is still not getting the attention that it deserves. He joins Eric & Cobus from Washington, D.C. to explain why.JOIN THE DISCUSSION:Twitter: @ChinaGSProject| @stadenesque | @eric_olander | @pepe_zhangFacebook: www.facebook.com/ChinaAfricaProjectFOLLOW CAP IN FRENCH AND ARABIC:Français: www.projetafriquechine.com | @AfrikChineعربي: www.akhbaralsin-africia.com | @AkhbarAlSinAfrJOIN US ON PATREON!Become a CAP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CAP Podcast mug!www.patreon.com/chinaafricaprojectSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
China's two-way trade with countries in the Americas increased 8% last year to $486 billion, nearly twice the volume of what China does in Africa. South America is now a vital source of food, energy, and strategic minerals for China, while markets like Brazil are attracting record amounts of Chinese investment.Meantime, China's growing presence in Latin America and the Caribbean region is also making the U.S. increasingly uncomfortable given that many people in Washington, D.C. still believe that the Western hemisphere remains America's traditional sphere of influence.But despite China's enormous economic engagement in the region and the geopolitical concerns in the U.S., Pepe Zhang, a senior fellow at The Atlantic Council and one of DC's top China-Americas watchers, contends that China's surging influence is still not getting the attention that it deserves. He joins Eric & Cobus from Washington, D.C. to explain why.JOIN THE DISCUSSION:Twitter: @ChinaGSProject| @stadenesque | @eric_olander | @pepe_zhangFacebook: www.facebook.com/ChinaAfricaProjectFOLLOW CAP IN FRENCH AND ARABIC:Français: www.projetafriquechine.com | @AfrikChineعربي: www.akhbaralsin-africia.com | @AkhbarAlSinAfrJOIN US ON PATREON!Become a CAP Patreon member and get all sorts of cool stuff, including our Week in Review report, an invitation to join monthly Zoom calls with Eric & Cobus, and even an awesome new CAP Podcast mug!www.patreon.com/chinaafricaproject
China's engagement and influence in Latin America and the Caribbean (LAC) have grown with the expansion of the Belt and Road Initiative into the region. Increased American attention suggests changes in a complex triangular relationship. What is China's ambition in the region? What would LAC countries stand to gain from more robust partnerships with China? Will they feel pressure to choose between China and the United States? In a conversation moderated by Xiaoyu Pu on August 12, 2022, Álvaro Méndez and Margaret Myers discuss China's growing involvement in LAC and its implications for the United States. About the speakers: https://ncuscr.org/events/latin-america-china Follow Xiaoyu Pu on Twitter: @pu_xiaoyu Follow Margaret Myers on Twitter: @MyersMargaret Follow Álvaro Méndez on Twitter: @alvaroimendez Subscribe to the National Committee on YouTube for video of this interview. Follow us on Twitter (@ncuscr) and Instagram (@ncuscr).
We discuss what is happening on the ground in battleground states ahead of the 2022 elections. Our guests are: Frank Gaffney, Dave Walsh, Doug Wardlow, Abraham Hamadeh Stay ahead of the censors - Join us warroom.org/join Aired On: 7/06/2022 Watch:On the Web: http://www.warroom.orgOn Gettr: @WarRoomOn Podcast: http://warroom.ctcin.bioOn TV: PlutoTV Channel 240, Dish Channel 219, Roku, Apple TV, FireTV or on https://AmericasVoice.news. #news #politics #realnews
Margaret Myers returns to The Belt and Road Podcast to speak with Erik about the role and development of China's International Insurance sector and in Latin America and the Caribbean. The conversation is based on her January 2022 report from The Dialogue entitled Going Out, Guaranteed: Chinese Insurers in Latin America. Margaret Myers is the director of the Asia & Latin America Program at the Inter-American Dialogue. She created the Dialogue's China and Latin America Working Group in 2011, as well as the China-Latin America Finance Database in cooperation with the Global China Initiative at Boston University's Global Development Policy Center. She has previously worked as a Latin America analyst and China analyst for the U.S. Department of Defense.Recommendations:MargaretAlbright, Zara C., Rebecca Ray, Yudong (Nathan) Liu (2022), China-Latin America and the Caribbean Economic Bulletin, 2022 Edition ErikRichard Simmons 'Sweatin' to the Oldies' Workout VideoA special thanks to Taili Ni for editing this episode!
Get your daily briefing of the latest Caribbean News Headlines. Learn more about the happenings and events of the region every weekday.Caribbean Headline•Venezuela Could Be Fill-in for Russian Oil, But Critics Fear Aiding Maduro•Russian tourists evacuated from Cuba on charter flights•Chinese FM hails China- Latin America and the Caribbean cooperation•Dominica, Syria Establish Diplomatic Relations•Dubai Chamber launches new guide examining economic potential in Latin America•Human Trafficking Education Campaign launching soon in Barbados•Sandals Resorts International makes exploratory visit to Dominican RepublicThese and other stories on today's Pulse of the Caribbean-Caribbean News Round Up for Tuesday, March 8, 2022.
Sourcing in the old China; Latin America - Amazon Seller tips with Susana Bermudez Part 2
Sourcing in the old China; Latin America - Amazon Seller tips with Susana Bermudez - Part 1
China was instrumental in helping Latin America weather the last global financial crisis. Can it do so again? The coming recession could offer the superpower a new opportunity to build influence in Latin America. But this isn't 2008, says China-Latin America expert Margaret Myers, and the regional relationship is a lot more complicated. Myers joined AQ's Editor-in-chief Brian Winter to discuss what China wants in Latin America, and what the pandemic changes. Guests: Margaret Myers is the director of the China and Latin America program at the Inter-American Dialogue. Brian Winter is the editor-in-chief of Americas Quarterly Background reading: "Could China Be a White Knight Again for Latin America?" by Margaret Myers and Kevin P. Gallagher (https://www.americasquarterly.org/content/could-china-be-white-knight-again-latin-america) "The Reasons for China's Cooling Interest in Latin America" by Margaret Myers (https://www.americasquarterly.org/content/how-beijing-sees-it)
Prime Minister Andrew Holness, says Jamaica's economic development will be boosted by his working visit to China. A delegation, led by the Prime Minister, is on an 8-day state visit to the Asian economic powerhouse. Jamaica are guests of honour at today's opening forum for the 2nd China International Import Exposition. Prime Minister Holness says Jamaica can follow China's lead in economic development by focusing on a people-centred development plan. Guests - Former Jamaican Ambassador to the United States and Author of the Books, Dragon in the Caribbean: China's Global Re- Dimensioning - Challenges and Opportunities for the Caribbean and Dragon in the Caribbean: China's Global Re-Positioning - Challenges and Opportunities for the Caribbean, Dr Richard Bernal. - Young Scholars with the Inter-American Dialogue China/Latin America Program & a member of the China/Latin America & Caribbean Academic network, Jevon Minto.
China's growing ambitions in Latin America are making some worried. The Venezuela crisis, where bad Chinese debt played a big role in the collapse of the socialist economy, and China's subsequent selling of weapons to Venezuelan Dictator Nicolas Maduro, is just the most high profile example. We sit down with China-Latin America expert Sascha Hannig Núñez to find out more! She's a writer, researcher and project Manager at the Global Affairs department of Foundation for Progress, Chile. And yes, Huawei is part of it. This is China Unscripted.
Today on "All Things K-Pop", Kevin and Killa talk about the things you must-do in Korea. On "Trending Now", Jasmine joins to talk about K-Pop diplomacy in North Korea and other countries.
Through my Crossing Borders podcast, I’ve had the opportunity to interview dozens of Latin America’s most inspiring entrepreneurs. In this special episode, I decided to turn the tables to bring a former guest, GroupRaise CEO Devin Baptiste, back to the show to ask me about my first days as an entrepreneur, and how that eventually brought me to Chile. I sat down with Devin, a close colleague and friend, to delve into how ticket reselling, and helping people plan for their deaths, brought me to Latin America and put me on a path to help found Magma Partners. Don't worry, we'll be back to our regularly scheduled guests next week! Refereeing soccer games at age 12 was the first step to becoming an entrepreneur. Nathan Lustig made his first money as a twelve-year-old soccer referee back home in Wisconsin. As an independent contractor, he enjoyed planning a game schedule and being in control of his income, most of which he saved. Sports become a common theme in Nathan’s journey to becoming an entrepreneur, as he became well-versed in the market of buying and selling tickets as a long-time sports fan. In many ways, his love of sports and attending sports games foreshadowed his first venture, a college ticket-selling marketplace called ExchangeHut. Companies are sold, they are not bought. Nathan got into ticket selling when he lost the lottery for season tickets at University of Wisconsin in his freshman year. As he looked for ways to buy tickets for himself, friends lined up to ask for help with the same problem. A year later, Nathan had purchased ExchangeHut alongside a childhood friend, using some of the funds he saved reffing soccer. Over the course of two years, they grew the platform from 1000 users on one campus, to nearly 250K users on eight university campuses. Getting acquired was a deliberate process. Neither Nathan nor his partner wanted to operate ExchangeHut after graduation, so they researched and contacted potential buyers, and were eventually acquired by the ad network that operated on the site. Nathan emphasizes that companies looking to be acquired should be on the hunt for interested buyers. Few acquisitions come from companies that were shopping around to buy and find their acquisition target from a day of Googling. Selling to morticians and how Nathan ended up in Chile. After selling ExchangeHut, Nathan moved onto his next challenge, as co-founder of Entrustet, a service that helped families access, transfer, and delete online accounts when someone died. While they got great PR because the idea was just so novel, B2C marketing was near impossible. Very few people wanted to think about or plan for their death, except, surprisingly, in Japan and Mexico. As they pivoted, Nathan and his partner stumbled across an article about Start-Up Chile in Forbes and applied. They became a part of the program’s first class. The ecosystem in Chile was in its nascent stages at that time, but even then it was evident that something big was brewing. Nathan sold Entrustet after Start-Up Chile and made his way back to Latin America to work on his Spanish. The Magma Partners investment thesis After a stint as a Spanish language marketer, and as a university professor, Nathan settled into mentoring startups in Chile. When he met Francisco Saenz in 2013, they realized an opportunity to make an outsize impact in Latin America’s entrepreneurship ecosystem through a private fund that would combine capital investment, mentorship, and US best practices, giving Latin American startups access to support of the kind found in Silicon Valley. Francisco and Nathan founded Magma Partners with a US$2.5M fund they invested in pre-seed and seed stage companies that either sold to businesses in Latin America, or to a US audience. A lot of people thought their investment thesis was crazy, that Latin America was too risky an investment. Yet Magma I has already seen their original investment reach US$7.5M; their portfolio has also generated over 350 jobs. The 3 Mega Trends Happening in Latin America now. Devin and Nathan closed out their conversation looking forward at the future of tech in Latin America, just weeks after the announcement of Magma II, a US$15M fund to be invested under the same thesis. Nathan sees three huge trends in the Latin American startup ecosystem, with Magma Partners riding the wave of all three. Latin America’s tech scene is maturing at a very high rate and will be producing many highly profitable businesses over the next decade. Chinese businesses and investors are starting to look into investments in Latin America. Magma Partners also announced the opening of the first Sino-Latin American accelerator to help Chinese and Latin American entrepreneurs work together. The US is taking notice of Latin America. Nathan summed up our conversation explaining the long-term impact of Magma Partners on the startup ecosystem. “Magma is a multi-decade project,” says Nathan, “and we want to be a core building block of the ecosystem to continue building what other amazing funds in Argentina, Brazil, and Mexico have done.” Check out the rest of the episode to hear Nathan’s story in detail and learn how he went from soccer referee to Managing Partner at Chile’s first private venture capital fund! Outline of This Episode: [1:16] Devin Baptiste introduces Nathan Lustig [3:00] Starting the entrepreneurship journey as a soccer referee [8:10] Buying his first business at age 19 with a childhood friend [12:50] Growing your user base from 1000 to 250k within 2 years [21:10] Buying and selling tickets shows you what people’s true character is [23:40] Companies are sold, they are not bought [26:35] How do you get a company to sit down and talk acquisition? [34:50] Deciding not to compete against Facebook Marketplace was a mistake [36:15] Branching out: how did you get into your next company? [40:30] How do you sell a product that people use after they die? [42:43] How many people on Facebook die in a year? [50:37] Joining the first class of Start-Up Chile with no expectations [58:40] Giving a speech to Sebastian Piñera, President of Chile [59:23] Why Magma Partners and why Chile? [1:06:10] Do we want to be in the death industry for the next 5-7 years? [1:11:30] Learning Spanish in Chile as a Spanish language content writer [1:15:41] What values inspired the Magma Partners investment thesis? [1:21:44] Has your investment thesis been validated? [1:25:45] US reactions to a Latin American VC fund [1:30:33] Magma II - the investment thesis is playing out [1:32:20] Where is the China-Latin America business relationship going? [1:36:16] Three mega trends that Magma Partners is excited about [1:39:02] Lessons learned in Fund I to be applied to Fund II [1:44:30] Thanks to Start-Up Chile for bringing so many great entrepreneurs to Latin America Resources and People Mentioned: ExchangeHut Entrustet - acquired by SecureSafe Start-Up Chile Welcu GroupRaise FounderList Magma Partners AliExpress Devin Baptiste Joseph Boucher Francisco Saenz Diego Philippi Adrian Fisher Jesse Davis Connect With Nathan www.NathanLustig.com www.MagmaPartners.com On Twitter On LinkedIn
One aspect of the “Rise of China” that is causing anxiety among foreign policy specialists and other people looking for something to be anxious about involves China’s developing relations in what used to be called the third world. As part of China’s “rise,” its state and businesses have become increasingly involved in both commercial and development activities. There is a lot of speculation about whether China is challenging the existing norms of international economics and politics. Dr. Strauss co-edited a special issue of The China Quarterly about China and Africa, and she and colleagues will be publishing an issue about China and Latin America in March. Her talk will focus on how the Chinese think about their engagement in Latin America, and in particular differences in how Chinese actors are engaging with small countries like Peru, as compared to another “rising” state and economy, Brazil. Dr. Strauss served as editor of The China Quarterly, the premier academic journal about China, from 2002 – 2011. She brings to her currrent work not only deep knowledge of China but close attention to how the relationship works from the other side, from Latin America.