Paraguay’s President Santiago Pena affirmed the country’s longstanding diplomatic ties with Taiwan, citing Taiwan’s economic model as exemplary. That comes amid a climate where multiple Latin American countries, including the Dominican Republic and Honduras, have switched allegiances from Taipei to Beijing. China’s growing influence in the region is marked by its significant trade relations and investments in various sectors. Last year, China had a trade surplus with Paraguay amounting to more than USD 4.2 bln.