Taiwan Ally Paraguay Is Open to China Investment, Finance Minister Says

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Taiwan Ally Paraguay Is Open to China Investment, Finance Minister Says
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Taiwan’s last South American ally would consider Chinese investment to develop its nascent green hydrogen industry as it seeks to become a regional fertilizer supplier, Paraguay Finance Minister Carlos Fernandez said.

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Paraguay has ample supplies of the two key ingredients needed to produce green hydrogen — water and renewable power from two massive hydroelectric dams — that can be further processed into synthetic fuels and fertilizers.

China has steadily picked off Taipei’s diplomatic allies in Latin America with Honduras switching sides this year. Beijing is now a top trading partner of many countries in the region and a major investor in mining, agriculture and infrastructure.

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