Buenos Aires, Argentina - Following the visits of several regional leaders and top diplomats to Beijing in the past weeks, the multilateral cooperation between China and Latin America continues to grow at a steady pace. Recent studies show that bilateral trade soared over 1400% in just a decade.

Argentina is China's second largest trade partner in the region. It made a partnership deal with China that includes a 15 billion US dollars financial assistance package, the construction of the biggest space research facility in South America, the purchase of top-notch equipment for upgrading defense capabilities, and building two nuclear power stations among others.

The agreement was regarded by the government and local economists as a strategic way for Argentina to overcome the side effects of the US financial blockade. Meanwhile, Washington and London blasted the deal arguing it hides a secret deal to set up a military base in South America. The head of the foreign relations commission of the lower house rebutted the allegations.

According to experts, the growing presence of China in Latin America and its millionaire investments in developing countries such as Brazil, Ecuador, Mexico and Venezuela, shows a geopolitical shift in the region where the United States and Europe lose their long-standing predominance to new players like Russia, China and Iran. Gustavo Girado of Argentina's UNLAM Asia Observatory sees the Chinese expansion as a remarkable opportunity for the continent.

As a retaliatory response to the strategic partnership signed between China and Argentina, British MP Nathan Gill called for an end to the EU foreign aid to Buenos Aires. According to him, part of the deal could pose a serious threat to the UK interests in the region, especially in the occupied Malvinas Islands.