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China's Xi Jinping Calls for Multipolar World

Yahoo Finance •
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During a meeting in Beijing, Chinese President Xi Jinping and Uruguayan President Yamandu Orsi discussed advancing an "equal and orderly multipolar world." The leaders signed agreements on trade, environmental cooperation, and technology. This visit follows other recent meetings between China and Western leaders, signaling China's continued global engagement and influence.

Xi emphasized China's backing of Latin American and Caribbean nations' sovereignty. The two nations signed a strategic partnership declaration and 12 other agreements. Uruguay seeks to boost trade and investment, particularly through diversification. China was the top destination for Uruguayan exports in 2025, primarily agricultural products like soybeans and beef.

Orsi's visit is seen as symbolically important for China, which is seeking to strengthen ties with the Global South amidst a volatile global environment. China aims to deepen its relationship with Latin America and supports Uruguay's leadership in the Group of 77+. The timing suggests a desire to counter perceived U.S. influence in the region.

Experts suggest that Uruguay's engagement with China will be shaped by renewed U.S. attention to Latin America. While meat and soy have been central to the trade relationship, there's potential for growth in areas like dairy and service exports. Uruguay had a $187.1 million trade surplus with China in the first half of 2025.