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Full Version: China emerges as Latin America's lender of last resort, Bails out Argentina
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NWO is runnin' scared.

Quote:BEIJING (AP) — As soon as Argentine President Cristina Fernandez de Kirchner landed in Beijing this week she began lauding new deals with what she called the world's "No. 1 economy," ranging from two proposed nuclear power plants to joint space exploration.

With her country's economy contracting and its supply of dollars dwindling, Fernandez arrived Monday looking for help from China, which has already lent Argentina $14 billion since 2007. By the end of her trip Thursday, the two countries had agreed on $6.8 billion of financing for the construction of two hydroelectric dams and a railway, according to Chinese state media.

"Long day, but very fruitful," her Twitter account read earlier this week. "Argentina confirms its presence and importance in the No. 1 economy of the world. The reception couldn't be better."

The trip, and Fernandez's enthusiasm, highlights China's growing role as a kind of lender of last resort for Latin America. Beijing has become a frequent destination for the region's presidents, especially populist ones who have spent freely over the past decade but are now grappling with a collapse in the prices of oil and other commodities that their economies produce and export.

While American and European lenders have stayed away from such risky countries, or demand economic and political reforms in exchange for loans, the more than $100 billion China has lent Latin America come with fewer human rights or good governance strings. They do, however, often require countries work with Chinese companies on housing, rail and other infrastructure projects, or pay the loans back with millions of barrels of oil for years to come.

Over the past decade, China has helped sustain Latin America by buying soybeans, iron ore, oil and other commodities, in the process lifting millions in the region into the middle class and helping shield governments from economic woes elsewhere. Now, as China's economy slows, and sends commodity prices to record lows, the Asian giant is moving even closer to its partner countries, especially in Latin America, by helping to rescue them.
Quote:Cui Shoujun, an international relations professor at Renmin University in Beijing, said the financial support is designed to build long-term allies around the world as China seeks to remake a global order long dominated by U.S.- and European-based institutions such as the World Bank and the International Monetary Fund.

"We are not calculating the gains and losses in the short period but building a long-term relationship," Cui said. "It's a kind of partnership, not just Latin America relying on China and China wanting resources."

china is playing the long game. China will get burned on most of these deals.. but they make allies. Allies it needs against the encroaching secular world order.
^ chinese won't care about that. but yeah she is unsophisticated and not well cultured. How can you make that type of blunder, esp. towards the hand that feeds you.
Argentina needs fundamental economic reforms, not more loans that it'll default on.
(02-09-2015 08:28 AM)Count Iblis Wrote: [ -> ]Argentina needs fundamental economic reforms, not more loans that it'll default on.

I think in this case, the long term dividends of a new rail and increased renewable energy are worth it.
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