China’s billions are destroying Latin America

[Kamaji]

China’s billions are destroying Latin America

By Eric Farnsworth   
August 19, 2023

There aren’t many issues that unify Washington right now like the desperate hope its pro football team will return to glory under new ownership.

One issue that does—perhaps the only one—is increasing bipartisan concern about the challenge China poses to U.S. interests both at home and abroad.

It’s not a football game but something more serious: a global chess match with a near-peer authoritarian economy. 

Yet as any football fan knows, you first have to compete in your own division if you want to get to the Super Bowl.  And so it is with global politics.

If you don’t pay adequate attention to your own backyard, someone else will muscle into the neighborhood.

In the Americas, economies are troubled, insecurity has spiked, and voters are restless.

With the United States focused elsewhere, China has seen opportunity and solidified its position via financial largesse; it is now the top trade partner for most of South America and the largest sovereign debt holder.

Trade between China and the region reached a record $445 billion in 2021, up from just $12 billion in 2000, and foreign investment has charted a similar path with Venezuela, Brazil, and Ecuador the leading recipients.

No wonder Beijing’s political leverage has increased so significantly across Latin America and the Caribbean just as Washington’s has declined. 

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Source:  https://nypost.com/2023/08/19/why-billions-in-chinese-aid-is-bad-for-latin-america/

[mountaineer]

China makes billions in trade, but at the same time:

Pradheep J. Shanker
@Neoavatara
Xi is slowly destroying capitalistic China.


Science Is Strategic
@scienceisstrat1
China’s private sector used to be far more productive than its SOEs. That seems to have changed.

They can use all that money to build up the military and impose even more restrictions on the populace.

[unite for individuality]

With the United States focused elsewhere, China has seen opportunity and solidified its position via financial largesse; it is now the top trade partner for most of South America and the largest sovereign debt holder.

Trade between China and the region reached a record $445 billion in 2021, up from just $12 billion in 2000, and foreign investment has charted a similar path with Venezuela, Brazil, and Ecuador the leading recipients.

No wonder Beijing’s political leverage has increased so significantly across Latin America and the Caribbean just as Washington’s has declined.

It's not just that China is gaining influence in South America, Africa, etc.
It's also that the U.S. government DROVE THOSE COUNTRIES AWAY!
How?

There's a book titled "Confessions of an Economic Hit Man"
that details how USAID - the United States Agency for International Development
drove dozens of countries out of our camp, and into China's welcoming arms.

How they did it -
USAID would contact some country, and tell them,
"We found oil in your country. We'll make you a deal.
We'll have our oil company drill and pump the oil,
we'll have our New York bank loan you the money
to build the infrastructure to transport the oil.
You can tax the oil to make payments to the bank."

The deal sounds good, so the country signs up.
Drilling is done. Oil is pumped.
Less oil is pumped than was promised,
so the country doesn't have enough tax money
to make the loan payments to the bank.

The bank the forecloses on the loan,
and seizes many of the country's assets.

The D.C. swamp is a branch office of the Wall Street/global swamp
that profits in money and power from all this.
So, thanks a pantload to all the swamp rats,
whose greed drove so many of America' allies into our enemies' arms!

[DB]

China just may end up holding the bad debt bag when Latin America is done with them...