China will provide nearly $10 billion in credit lines to Latin American countries for development, with the support offered in yuan, according to Chinese President Xi Jinping.
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00:00China will commit credit lines of just under $10 billion to Latin American countries to support development.
00:08However, Chinese President Xi Jinping says the support will come in yuan.
00:14He delivered a speech to kick off a ministerial meeting of the China Select Forum,
00:19a platform for cooperation between China and Latin American and Caribbean nations.
00:24Speaking at the forum's opening, Xi said there are no winners in tariff wars and trade wars.
00:30There are no winners in tariff wars and trade wars.
00:37They are the only winners in tariff wars, and they are the only winners in tariff wars.
00:44China, China and China are the most important members of the world.
00:50The China Select Forum challenges long-standing American geopolitical and economic dominance in the region,
01:17which the Trump administration has sought to counter.
01:21The event takes place after a weekend of high-stakes trade talks between the US and China that ended on a positive note.