China burst into Argentina in a big way last year, snapping up joint control of the country’s second biggest oil producer, Pan American Energy, in the biggest deal Argentina has seen in a decade. It also grabbed the local unit of Occidental.
Beijing also agreed to back railway projects in Argentina to the tune of $12bn. China’s other interests in Argentina include iron ore, gold, soya, fertiliser and electronics. While Argentina’s heterodox policies have put many investors on the back foot, China has made Argentina its third-biggest investment destination.
Could that investment appetite now extend to banking?
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