Chinese banks finance a different set of countries than the World Bank, Inter-American Development Bank and North American and European banks. Argentina, Ecuador and Venezuela, which are not able to borrow as easily in global capital markets, have been a focus of Chinese lending in Latin America. In Latin America and elsewhere in the world, Chinese lending is considered to be both profit-driven and a form of diplomacy.Someday, the Chinese must think, they will become the perfect Latin American useful idiots.
Monday, April 20, 2015
Buying friends to influence People's Republics
Venezuela, whose oil reserves are already in hock to China for some $56 billion dollars, proudly announces it is going further into debt to the same (Shyloks?). Why would a creditor extend more loans to a deadbeat who can't repay what has been borrowed already? Maybe von Clausewitz would recognize this;