Obama’s announcement to restore diplomatic relations with Cuba is not an absolute opening of trade, which is still privileged to U.S. agro-export, telecommunication, and financial industries. China on the other hand is Cuba’s second largest importer, with investments in petroleum, tourism, nickel, and infrastructure – all of which could prove beneficial once American firms and consumers are allowed to enter the Cuban economy.

US and China are engaging Latin America in different ways. While the US is attempting to rebuild relationships that have been strained recently, China has engaged in economic activities with countries in the region. Although China has invested heavily and is influential in the region, it has not led to increased tensions or competition between China and the US.