Chinese President Xi Jinping and his Brazilian counterpart President Luiz Inacio Lula da Silva during the latter's visit to Beijning, China on April 14, 2023. (AFP)

The G77, founded in 1964, now stands as the largest intergovernmental consortium of developing nations within the United Nations, operating as a crucial forum for advancing the interests of the developing world. It particularly represents those excluded from G7 and G20 summits and encompasses 80 percent of the world's population.

China, although not an official member of the bloc, exhibits significant interest in this gathering, particularly given President Xi Jinping's notable absence from the recent G20 summit in India's New Delhi.

Read more: G77: A forum for global equality

China's participation in the most recent G77+China summit hosted by Cuba, a nation renowned for its anti-US stance and situated in close proximity to the United States, clearly signifies its alignment with the cause of supporting the "oppressed," a report published by The Telegraph on Thursday said.

"I thank President Diaz-Canel and the Cuban people for hosting this important meeting within the framework of our fight for a multicentric and multipolar world. By reaffirming our commitment to developing nations, we are building the century of the people of the south,” Venezuelan President Nicolas Maduro said during the conference in Havana.

China criticized growing unilateralism

The summit, which drew participants from over 100 nations such as Iran, Saudi Arabia, Nigeria, and Nicaragua, was marked by numerous speeches advocating for a new global order. According to the report, the new international order called for during the summit is one of which China assumes a leading role and the United States takes a backseat.

During the summit, Li Xi, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, passionately criticized the growing unilateralism and hegemonism. He emphasized practices such as unilateral sanctions, erecting barriers, decoupling, and disrupting industrial and supply chains, all of which undermine the legitimate development rights and interests of developing nations.

“We, the developing nations, have won national independence and liberation after a long and arduous journey […] We have invariably stood in solidarity through thick and thin. We have supported each other and grown together, and we are a community that rise and fall together. As a Chinese saying goes, ‘When brothers are of the same mind, they can cut through metal with combined strength,’” The senior Chinese official added.

Cuban President Miguel Diaz-Canel called upon attendees during the summit conclusion to "change the rules of the game" and included condemnations of the US, including statements from Brazilian President Luiz Inacio Lula da Silva and Honduran President Xiomara Castro, who severed ties with Taiwan in March.

Maduro announced space partnership with China

Preceding the massive gathering, Maduro visited Beijing for the first time in five years, sparking media speculations about his objectives, primarily centered around oil and financial support, given Venezuela's vast oil reserves.

However, Beijing's interests extend beyond oil. Xi's warm welcome of his counterpart and the elevation of their relationship to an "all-weather strategic partnership" while skipping the G20 summit, underscore China's deepening ties with Venezuela, marking it as their first such partnership in Latin America. According to the report, this relationship status China reserves for its closest partners.

Following the visit, Maduro announced a partnership with China to send Venezuelan citizens to the moon using Chinese spacecraft, demonstrating the strengthening of bilateral cooperation.

US set itself up for major future disappointment

China perceives Latin America not as a region of chaos, but as an area brimming with economic and political opportunities, in contrast to the US' view of its Southern neighbors.

The region boasts critical mineral reserves worth trillions of dollars, which are essential for emerging technologies, making it a focal point for the next industrial revolution. China has strategically acquired numerous mines throughout Latin America with preferential contracts from anti-imperialist governments.

Moreover, China acknowledges the geopolitical importance of establishing a foothold in the vicinity of the United States. An example of this is China's alleged intentions to construct a military base in Cuba, the report said. However, as these developments unfold, Washington's attention appears to be shifting toward Europe and Asia. Consequently, the region that was already underexamined seems to have been relegated to a lower priority.

Latin America is now basking in newfound positive attention from a major global player. By steering its diplomatic focus away from its southern hemisphere, the United States may have positioned itself for a major future disappointment.