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China bids to boost S America role by aiding development

China, whose presence in Latin America until now was largely based on an appetite for raw materials, is diversifying investments by financing much-needed development projects, analysts say. On its 50th anniversary, the G77+China bloc of developing nations are meeting at a summit that began yesterday in Santa Cruz, Bolivia, to promote economic development. Delegations from 133 countries and about three dozen heads of state are to attend. “China now acts…