Chinese cash says that a South American tech boom is incoming
Investors from China are pumping money into Latin America at an astonishing rate.
By the numbers: Bloomberg reports that Chinese venture capitalists pushed $1 billion into South American projects during 2017. That’s up from just $30 million in 2015.
Signs of success: Mexico’s most successful news app, Noticias Aguila, was entirely designed and developed by a team based in Shenzhen, China.
Why it matters: In the past, China borrowed ideas from Europe and the US. Now it’s pushing its own tech on up-and-coming nations faster than the West can.
But: China’s entrepreneurs must tread carefully. Bloomberg notes that, as with Chinese car imports and investment in infrastructure, locals often push back against external investment.
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A new generation of tech activists, organizers, and whistleblowers, most of whom are female, non-white, gender-diverse, or queer, may finally bring change.
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