Colombia Joins China-Led Development Bank, Defying US | JQJO

Colombia has applied to join the China-led New Development Bank, signifying a shift in Latin American relations away from the U.S. President Gustavo Petro's visit to China included a meeting with the bank's head, Dilma Rousseff, and a commitment to purchase $512 million in shares. This move, following Uruguay's application in 2021, aims to secure funding for infrastructure projects, including a canal connecting Colombia's Atlantic and Pacific coasts. While Colombia is a traditional U.S. ally, Petro emphasizes the country's neutrality in the face of U.S. opposition to China's involvement in Latin America.