The Obama administration and U.S. media have made much ado about the U.S. "pivot" to Asia. What has largely escaped their attention, however, is that China has been lining up economic allies in the erstwhile "backyard" of the United States.
Just as serious competition ought to awaken one's creative juices in business, it is time for the U.S. to step up a suitable economic policy for Latin America before it is too late.
The difference in approaches by the U.S. and China in Latin America were squarely brought into focus recently when U.S. Vice President Joseph Biden and Chinese President Xi Jinping made tours of Latin America.
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