This month’s summit, held in Beijing, certainly moved the bloc further in that direction. Chinese President Xi Jinping pledged to double Chinese trade with the Celac countries over the coming decade and to invest $250 billion across the region. Ecuador’s Rafael Correa left the summit with more than $7 billion in new Chinese aid and credit, while Venezuelan President Nicolás Maduro received much-needed pledges of investment from China’s state-run Bank of China and China Development Bank.