BEIJING, Jan. 8 (UPI) -- China pledged financial support to Ecuador and Venezuela Thursday, two leftist Latin American countries hard-hit by falling oil prices.
After meeting this week with Venezuelan President Nicolas Maduro, Chinese President Xi Jinping said his country's investment in Latin America would reach $250 billion in the next decade. It is an indication of China's eagerness to find Latin American resources and allies, and Latin American nations, who sent representatives to a meeting in Beijing, to balance U.S. influence in the region.