Southern Hospitality

On his 12-day tour of Latin America, China's President Hu Jintao proved himself a master of manners. Rule 1: never go to a host's house empty-handed. Hu announced more than $30 billion worth of long-term contracts and new investments in Central and South America, and his newfound friends returned the favors: Brazil, Argentina, Chile and Peru said they recognized China as a "market economy"—not a developing one—strengthening China's bid for better trade terms from the World Trade Organization. Hu's largesse included:

• BRAZIL $8.5 billion in investments over 10 years

• ARGENTINA $20 billion in...

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