On December 3theThird Summitof Latin American and Caribbean States lowered its curtain in Caracas, capital of Venezuela, officially signing into effect the formation of the Community of Latin
American and Caribbean States (CELAC)as the new leading regional bloc, which symbolized further integration of the region and a milestone after Latin America’s independence fighters first raised the battle cry for a united Latin America 200 years ago. As the second largest trade partner and the third largest investor of the region, China will no doubt have more business opportunities with the establishment of the new bloc. However,the potential challenges brought by the new regional organization are also asking for more precautions.