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China Commentary
Tracking Military, Geopolitical & Strategic trends to determine China's impact Regionally Globally and Domestically
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Chinese Economic Meddling in Latin American Oil

Chinese Economic Meddling in Latin American Oil | China Commentary | Scoop.it
With Representative Mike Turner, Roger Noriega, Mark Krikorian, and Fred Fleitz. Congressman MIKE TURNER of [...]

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Congressman MIKE TURNER of Ohio explains the effects that Chuck Hagel’s policies advocating the reduction of America’s nuclear arsenal would have on America’s safety and security were he to be nominated for Secretary of Defense.

 

Former Ambassador to the OAS, ROGER NORIEGA, covers a litany of intrigue in the Americas including the Mexican struggle against the cartels, Chinese economic influence in Latin America, and Iranian Venezuelan money laundering.

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Lessons for Africa: Questionable Chinese mining practices in Latin America

Lessons for Africa: Questionable Chinese mining practices in Latin America | China Commentary | Scoop.it
Chinese companies will always try to take advantage of the weaknesses of countries where they invest

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China has conducted an economic foreign policy under the slogan of “win-win”.

This concept is based on the notion that China’s investments abroad could help China’s growth as well as the infrastructure of the countries where Chinese investments are pursued.

 

As Elizabeth Economy has pointed out, in order to advance its investments, mostly in countries that provide raw materials, China includes broader trade and aid deals to promote the development of the recipient country’s infrastructure.

 

In Latin America, China is the third largest foreign investor, mostly in the mining and hydrocarbon industry. Considering the broader picture, a recent study by the Economic Commission for Latin America and the Caribbean (ECLAC) predicts that China will become Latin America’s most important trading partner within the next five years. ECLAC suggests the need for a more balanced trade relationship as most of the exports out of Latin America are in the form of raw materials (59%) with a high ratio of manufactured products coming from China to Latin America. When China invests it secures an equity share of production on terms comparable to other co-owners (mainly the host country). Likewise, China usually makes a loan to the producer country in return for a purchase agreement.

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Ecuador and Peru offer two different models of Chinese investment that are very telling not only about China but also about how these two different political regimes deal with this issue.

Ecuador, a member of the Bolivarian Alliance, is one of the largest recipients of Chinese investment, particularly in the area of mining and oil."

 

'China has developed a large loan operation. Ecuador is the recipient of loans from China, which China considers as a good will gesture.  The interest payments on these loans are high and come with strings attached as Ecuador is obliged to use Chinese contractors to build the projects. Most importantly, these contracts are not available to the public. However, a letter signed by PetroEcuador and Petro China was recently disclosed. The letter seems to suggest that Petro-China can seize oil from Ecuador’s other international clients if the country fails to repay any part of the loan."

 

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