Ecuador’s exporters caught between US and China after debt deal

Ecuador’s exporters caught between US and China after debt deal

The agreement, signed by the US International Development Finance Corporation (DFC) and the Ecuadorean government just days before Donald Trump left office in January, envisages the US buying oil and infrastructure assets in Ecuador on the understanding Quito uses the proceeds to pay off its debt to China.

Adam Boehler, the recently departed chief executive of DFC, has described the deal as a “novel model” to eject China from the Latin American nation.

Related:

In Search of Tomorrow

US development bank strikes deal to help Ecuador pay China loans

IMF agrees to lend Ecuador $6.5bn

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Nothing Delivered: Trump’s ‘Antiwar’ Deception

Nothing Delivered: Trump’s ‘Antiwar’ Deception

With Trump, the people thought they voted for something different, but what they received was more of the same. Like Obama and Bush II, Trump was lying to his base, despicably pretending to be opposed to unnecessary wars in faraway lands. Trump made snide comments about the military industrial complex, etc. while looting the American people to pay for it all. He carried on with his “antiwar” façade while bombing to smithereens the same far flung countries that Bush and Obama nearly destroyed. At the same time, he was starving some of the poorest people in the world, from Venezuela to North Korea, with “maximum pressure” sanctions. He prioritized satiating the Israel first crowd first, and set the stage for brinksmanship with Beijing, as well as Moscow, while ensuring ever higher military budgets.

500 million tons of oil, natural gas found in NW China’s Junggar Basin

500 million tons of oil, natural gas found in NW China’s Junggar Basin

The Junggar Basin has great potential for oil and gas resource exploration, and is an important alternative area for the development of crude oil production and China’s petroleum reserves. Oil and gas exploration in the Junggar Basin has been accelerating in recent years. Over 1 billion tons of reserves have been discovered in the Mahu area, with a daily production level of 5,942 tons of crude oil, the Xinhua News Agency reported.

The Chinese Uyghur Dark Legend and Washington’s Campaign to Counter Chinese Economic Rivalry

The Chinese Uyghur Dark Legend and Washington’s Campaign to Counter Chinese Economic Rivalry

Dig below the surface of the allegations that Beijing is abusing its Muslim population, and you won’t find concentration camps and genocide, but a US-led effort to create a Chinese dark legend. The roots of the demonization campaign are to be found in Washington’s desire to counter China’s challenge to US economic supremacy.