China dumps more $$$$

[Mega]

Bet on it being $50 Billion not $5, 3 years!............Try 3 months!!!
http://news.bbc.co.uk/1/hi/world/africa/8349020.stm
Mike

[GRG55]

Re: China dumps more $$$$

Bet on it being $50 Billion not $5, 3 years!............Try 3 months!!!
http://news.bbc.co.uk/1/hi/world/africa/8349020.stm
Mike

Just another Colonial power...with Chinese characteristics...:rolleyes:

[jk]

Re: China dumps more $$$$

Just another Colonial power...with Chinese characteristics...:rolleyes:

i guess the chinese have learned some tricks from the fire-men: how to lend money, the smiling glad-handing lender, to gain control and influence.

[GRG55]

Re: China dumps more $$$$

i guess the chinese have learned some tricks from the fire-men: how to lend money, the smiling glad-handing lender, to gain control and influence.

They play a similar game as the Western powers. They will "lend" the money to a sub-Saharan government, an appropriate portion will be skimmed off by the national kleptocracy and end up in Zurich bank accounts, the remainder will be recycled back to China to purchase Chinese made products and services, which will be installed by exported Chinese labour. Rinse and repeat. [so the title of this thread is highly misleading...they are dumping very few Dollars, and recycling a lot of them].

The major difference is that the loan obligation will not be to some FIRE economy consortium of banks, but payable "in kind" [oil, copper, timber, whatever] to the Chinese government. You wouldn't believe how far afield the Chinese have gone. A few years ago I was in Calabar, Nigeria [near the Cameroon border] and stumbled across a Bao-Steel facility staffed entirely by Chinese workers and run by self-contained diesel generators [this latter being indicative of how hopelessly inefficient and corrupt is this OPEC country]. It was a central depot to collect and rough-process scrap steel for export back to China.

[wayiwalk]

Re: China dumps more $$$$

Kind of related in terms of dumping $$$$. I met an associate who represents our company in the Eurpoean region last week.

He told of a major win on a construction project by a chinese firm - they had underbid by half competitors (about $250 million instead of $450 million) on a road construction job there.

Just another way to launder your US $ withou making an immediate dump but to provide a use for that money while giving your country's businesses a leg up in the short term (and the long run if you can better ride out the recession).

[jk]

Re: China dumps more $$$$

Kind of related in terms of dumping $$$$. I met an associate who represents our company in the Eurpoean region last week.

He told of a major win on a construction project by a chinese firm - they had underbid by half competitors (about $250 million instead of $450 million) on a road construction job there.

Just another way to launder your US $ withou making an immediate dump but to provide a use for that money while giving your country's businesses a leg up in the short term (and the long run if you can better ride out the recession).

i wonder if they can figure out a way to get paid in euros and have their expenses in dollars.

[Jay]

Re: China dumps more $$$$

i wonder if they can figure out a way to get paid in euros and have their expenses in dollars.

I wonder when payments will be accepted only in a currency backed by something real and what the hell my country looks like at that time.

[lakedaemonian]

Re: China dumps more $$$$

They play a similar game as the Western powers. They will "lend" the money to a sub-Saharan government, an appropriate portion will be skimmed off by the national kleptocracy and end up in Zurich bank accounts, the remainder will be recycled back to China to purchase Chinese made products and services, which will be installed by exported Chinese labour. Rinse and repeat. [so the title of this thread is highly misleading...they are dumping very few Dollars, and recycling a lot of them].

The major difference is that the loan obligation will not be to some FIRE economy consortium of banks, but payable "in kind" [oil, copper, timber, whatever] to the Chinese government. You wouldn't believe how far afield the Chinese have gone. A few years ago I was in Calabar, Nigeria [near the Cameroon border] and stumbled across a Bao-Steel facility staffed entirely by Chinese workers and run by self-contained diesel generators [this latter being indicative of how hopelessly inefficient and corrupt is this OPEC country]. It was a central depot to collect and rough-process scrap steel for export back to China.

What I've seen myself as well as heard from people I trust reinforces it.

Anyone seen the size/scale of Chinese embassy compounds throughout natural resource rich nations?

The debth and breadth of Chinese infiltration of Sudan is hard to believe even from folks I DO trust.

A look at international air traffic to/from Africa and passenger manifests would be quite telling...but pretty obvious in my opinion.