China Three Gorges takes over for Odebrecht 

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Fifteen months after the deal was first announced, fallen Brazilian giant Odebrecht has finally agreed to sell the Chaglla hydroelectric plant to China Three Gorges (CTG). The 456MW plant in northern Peru was built in 2016 at a cost of $1.5b, but CTG is paying only $620m to Odebrecht. The $760m balance of the $1.39b of the deal will go directly to firms that financed the original project.

Odebrecht is further on the hook, as 50% of the $620m will be surrendered to a trusteeship that will pay for civil reparations against Odebrecht as part of the international spread of the Lava Jato corruption scandal, as well as to guarantee payment of back taxes.

Once omnipresent, the collapse of Brazil's construction giants, in particular, Odebrecht, has left a vacuum waiting to be filled by new faces across Latin America. China has certainly taken notice. Lead by CCCC/CHEC, which just this week formally won the fourth bridge over the Panama Canal, China's largest EPCs including CSCEC and Powerchina, are competing for projects alongside domestic and international incumbents. 

This increased competition should be a good thing for Latin America and the Caribbean as it makes strides towards addressing the region's infrastructure gap. As for the new players, it would behoove them to also take advantage of the lessons of Lava Jato, and engage in transparent and ethical transactions, lest they become the next object lesson.

Top Stories

Argentina and China sign deals strengthening ties after G-20— AP

Export-Eager Macri Administration Courts China at G20— The Bubble

China and Argentina sign currency swap deal after G20 summit— Al Jazeera

Analistas destacan palabras del presidente Xi sobre relación entre China y Argentina— People’s Daily

Quatro razões que fizeram da China uma força econômica na Argentina— O Globo

Lombardi destacó el momento que atraviesa la relación entre la Argentina y China— Total News

Macri:  "La Argentina no ve a China como una amenaza sino como una oportunidad “— La Nación 

Macri junto a Xi Jinping: "Cuanto más se desarrolle China mejor le va a ir a los argentinos”— Infobae

Cumbre Macri-Xi Jinping: Argentina y China firmaron 30 acuerdos para comercio e inversión— Ámbito Financiero

China e Argentina buscam nova era de parceria— People’s Daily

Argentina acuerda valiosa asistencia financiera de China— Diario El Pais 

Con 30 nuevos acuerdos, China es uno de los mayores inversores de Argentina— Clarín

Salvavidas de China a Argentina por 9.000 millones de dólares— Portafolio 

China signs $9 billion currency swap deal with Argentina— Asia Times

China deepens economic cooperation with Argentina—  Nikkei 

Argentina comes out of the G20 a big winner. Of the 30 deals signed with China, the almost $10b PBOC swap and the opening of the Chinese market to soybean oil and berries are the ones that will most likely have an impact in the short term. The extension of the San Martín cargo rail line to Mendoza and the extension of Route 5 will help, but need follow through.

Panama could soon become China’s gateway to Latin America thanks to an imminent free trade agreement— LSE Latin America and Caribbean

Estos son los empresarios que acompañan a Xi Jinping  para el encuentro con Varela— La Prensa

Histórica visita del presidente de China, Xi Jinping, a Panamá— La Estrella de Panamá

Exclusivo: Avanzar juntos hacia un futuro compartido— La Estrella de Panamá

La hormiguita y el elefante: la estrategia del presidente de China con Panamá— Univision

Warm words from Xi Jinping for Panama on first state visit by a Chinese leader— SCMP

Panama, China sign accords— The Japan Times

China Wants Panama To Be Its Gateway To Central America— NDTV

Panama awards China US$1.4 billion to build bridge for Belt and Road Initiative— HKFP

China Rewards Panama With Trade, Investment Deals— Caixin Global 

Following the G20, President Xi Jinping traveled to Panama to rub shoulders with President Juan Carlos Varela. As expected, the Free Trade Agreement between the two countries remains “imminent,” but President Xi provided encomiums: “Like many of my countrymen, I am no stranger to Panama even though I have never been to this country before.”

Gigante chinesa Alibaba pode estar a caminho do Brasil — IDG Now 

Alibaba se aproxima do Brasil— Baguete

Is Alibaba coming to Brazil? It’s very 2018 that a deleted tweet is making people think so.

Cumbre G20: Piñera sostendrá reuniones bilaterales con líderes de seis países del mundo — Bio Bio Chile

Latin America-China Trade and Investment Amid Global Tensions— Atlantic Council 

Las relaciones China-América latina, hacia un nuevo orden mundial— Clarín 

Our friends at the Atlantic Council breakdown what they expect to happen to China-Latam trade and investment in “the new world order."

Bank of China México quiere financiar infraestructura con nuevo gobierno— Forbes México

Banco of China México expresa su confianza por el nuevo gobierno— El Universal

Bank of China is making a bet on the administration of now-President Andrés Manuel López Obrador (AMLO) in Mexico.

Disputa entre EUA e China faz exportação de soja do Brasil mais do que dobrar em outubro— Gaúcha ZH

G20 vira palco para disputa entre China e EUA por domínio da América Latina— UOL

Bolton sondará uma maior aproximação com Bolsonaro sobre China, Venezuela e comércio— O Globo 

Mourão diz que Brasil deve 'tirar melhor proveito' de conflito EUA-China— UOL

Eduardo Bolsonaro takes leading role in foreign relations— Valor

EE.UU. y China se encaminan a pactar en Argentina una tregua a la guerra comercial— Clarín 

Trump minimiza influência da China na América Latina— Agência Brasil

Cúpula do G20 tem guerra comercial EUA e China entre temas centrais— Istoé Independente

Apesar de 'trégua' negociada no G20, guerra comercial China-EUA está longe do fim: qual o impacto para o Brasil?— BBC

Acordo EUA e China pode prejudicar o Brasil; ‘Bombas fiscais’ dos legislativos ameaçam estados. Jornais de segunda— O Globo

A U.S.-China Trade War Offers Brazil Tough Choices— Bloomberg

Brazil-China relations to continue to advance under Bolsonaro's gov't: expert— China.org

Uncertainty surrounds White House agreements on trade with China, North America— Washington Post

More on the trade war, whether last week’s pause is really a pause, and how the incoming Brazilian government is looking to position itself.

China — LAC

When South American nations look for cyber help, China looms— Fifth Domain

Former Minister of Finance says T&T cannot disregard “China factor”— i995FM

Relaciones China-América Latina son estratégicas y están en plena expansión según experto— El Universal

Brasil e China firmam memorandos de entendimento para facilitar comércio de frutas e pescados—  Comex do Brasil

América Latina es el segundo destino de la inversión china— El Cronista

China se convierte en segundo mayor socio comercial de América Latina— Xinhua

Criminales latinoamericanos ven hacia China para lavar dinero— Dialogo Americas 

Parceria Brasil-China está acima de ideologias, diz embaixador chinês— UOL

Novo governo vai melhorar ambiente de negócios, diz embaixador chinês— Agência Brasil

El lado B de la arremetida China en Chile— La Tercera

Chile podría exportar US$ 100 millones en carne a China— Economía y Negocios

Perú quiere competir con Chile y Argentina en la producción de litio— Expansion

China Tianqi se adjudica participación en chilena SQM por unos…— Reuters

Minera china Tianqi concreta adquisición del 24% de SQM en casi 4 mil millones de dólares— Bio Vio Chile

China's Tianqi purchases quarter stake in lithium miner SQM for $4.066 billion— Reuters 

Payments lessons from Asia and predictions for LatAm— iupana

Chilean seafood industry to benefit from China trade accords— IntraFish

China built a $50 million space base in Argentina to reach the dark side of the moon, but it’s casting a shadow on its neighbors— Vice News  

Korea — LAC

IMPACTANTE: México se encuentra en la mira de Corea del Sur— La Verdad

Corea del Sur y Argentina acuerdan incrementar las inversiones y exportaciones— El Diario

La Argentina firmó acuerdos con Corea del Sur— Telám

Comienza primera ronda de modernización del TLC entre Chile y Corea del Sur— Portal Portuario

Corea del Sur y Perú organizan foro sobre gestión de recursos hídricos— Agencia Andina

Japan — LAC

Abe viaja a la cumbre del G20 en gira que incluye Uruguay y Paraguay— La Vanguardia 

Se instalan dos empresas japonesas de autopartes en Irapuato— Mexico Industry

Macri dijo que Japón es un “socio estratégico” para el país— El Tribuno

Brazil's Açu port courts Japanese firms— BNAmericas 

Japan, Argentina agree to terms of tax treaty— MNE Tax 

ASEAN & Oceania — LAC

We didn’t see anything this week — what did we miss?

India — LAC

Chile aprovecha el G20 para estrechar lazos comerciales con Italia, Reino Unido, India y Japón— Diario Financiero

PM Modi meets Chilean Prez, discusses ways to enhance cooperation in trade, energy, health— The Hindu

El intercambio comercial, eje del encuentro de Macri con India y Corea del Sur— La Nación 

También el presidente de Corea del Sur estuvo esta mañana en Olivos— Perfil

PM Modi meets Argentinian President, discusses ways to strengthen bilateral ties— Times of India 

Mitra invites Latin American, Caribbean nations at BGBS—  Times of India 

India’s space diplomacy: Why Colombian satellite launch is a major victory for the country— Financial Express 

GCC — LAC

Saudi, Colombia to strengthen cooperation, Falih says— Channel News Asia 

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