Since the turn of the century, China has followed a policy of engaging with African nations for trade and bilateral co-operation; in 2019, Sino-African trade totalled $208 billion, having grown 20 times over two decades. According to Madison Condon "China finances more infrastructure projects in Africa than the World Bank and provides billions of dollars in low-interest loans to the continent’s emerging economies." China maintains extensive and highly diversified trade links with the European Union. China has furthermore strengthened its trade ties with major South American economies, and is the largest trading partner of Brazil, Chile, Peru, Uruguay, Argentina, and several others.