In 2019，the agreement of Itaipu Hydropower Station between Paraguay and Brazil triggered political turmoil，the right-wing President from Partido Colorado was almost impeached，which made his ruling position weakened. In 2019，affected by adverse climatic factors as drought and floods，the economic growth has been greatly affected，meanwhile Paragay’s foreign investment attraction strategy，with the objective to develop its manufacturing industry is favored by multinational companies，and obtained good results in 2019. However，the epidemic of COVID-19 is bound to have an negative impact on the economic growth rate of 2020. In terms of foreign relationship，Paraguay has close contacts with the Trump administration of the United States. Besides，varies sectors consider the promotion of bilateral trade relation with China as a top priority.