Chinese supermarkets are buzzing with newfound “cherry freedom” this season, as Chilean exports flood the market and halve prices of the prized fruit. This sweet deal symbolizes a thriving economic partnership between China and Latin America and the Caribbean (LAC) that now spans agriculture, technology, and billion-dollar investments.
Beyond the Fruit Bowl
While Chilean cherries dominate winter fruit baskets, Ecuadorian bananas and Honduran shrimp increasingly grace Chinese dining tables. Over 92% of Chile’s cherry production now feeds China’s demand, while Nicaraguan honey and Peruvian blueberries gain shelf space through tariff-slashing free trade agreements (FTAs).
The Numbers Behind the Partnership
Bilateral trade hit $500 billion in 2024 – a 40-fold jump since 2000 – with China now leading as the top trade partner for Chile, Brazil, and Peru. Chinese Ambassador to Panama Xu Xueyuan recently revealed China’s direct investments in LAC surpassed $600 billion, overtaking U.S. annual investments for the first time this year.
FTA Network Expands
China has established FTAs with five LAC nations since 2006, most recently concluding upgrade talks with Peru and signing an early harvest deal with Honduras. These pacts streamline market access for everything from Andean minerals to Chinese electric vehicles, creating what analysts call a “win-win supply chain.”
As Chilean cherry vessels dock in Shanghai and Peruvian copper powers China’s green transition, this trans-Pacific partnership continues redefining global trade dynamics.
