The high-gloss, made-for-flat-screen multi-billion dollar signing ceremonies between Chinese and Latin American officials have been staged to portray the triumphant return of the New International Economic Order. Yes, it’s true, the Global South is banding together again to trade once more. But wait a minute. Why are recent reports by the World Bank and the Organization for Economic Cooperation and Development also hailing this increase in China–Latin American trade relations?

This article originally appeared in the May/June 2010 edition of NACLA Report on the Americas.