China Funding Development in Columbia

link here to article

China is discussing the funding for a major development project in Columbia. They do not require structural changes in the economies of developing countries as a condition for aide. They hope to gain access to commodities for import to China and to open up exports from China. This is in contrast to the "Washington Consensus" which has lost favor in Latin America. Columbia and Mexico are the remaining adherents to the Washington Consensus which requires structural changes in the economy e.g. privatization of utilities and industry, deregulation of banking and open access for capital markets. China has been funding development in developing countries at a much high level than the World Bank which is dominated by the US. This has led Kevin Gallagher to ask whether it signals the end of the Washington Consensus.