China gives line of credit to Argentina 70 Billion Yuan

[Lucas]

China should own Argentina within 20 years and all over its soy fields & beef exports as well.

Good for China, they've found a weak country that is easy to control and has exactly what they need.

In 20 to 40 years I would expect millions and millions Chinese people living in thriving cities in the pampas or further north.

So then everyone will be cheerful and happy no more expats bitching about not enough Chinese restaurants and Chinese food in this country, start learning Chinese folks you got 20 years maximum and according to DA maybe less than that.

 

[DA]

So then everyone will be cheerful and happy no more expats bitching about not enough Chinese restaurants and Chinese food in this country, start learning Chinese folks you got 20 years maximum and according to DA maybe less than that.

DA with his positive attitude is probably the only person who could not get laid in a whore house with 1 million bucks.

Was that a Chinese whorehouse you where referring to?

 

[Lucas]

To all the negative doomsayers about Argentinas financial future here is some very good news that is being reported about a 70 Billion Yuan Currency Swap deal with China.

Argentina is the only Latin American country to achieve this with China and will help to stabilise the Argentine Peso.

http://news.bbc.co.uk/2/hi/business/7973541.stm

China and Argentina in $10bn deal

China and Argentina have made a tentative agreement to swap $10bn (£7bn) worth of their currencies.

The move, which allows both countries to bypass the US dollar, makes it easier for Argentine businesses to buy Chinese imports directly in yuan.

It also gives Argentina hard cash at a time when its finances have been hurt by the global financial crisis.

The deal comes after China suggested that the world should create a new reserve currency to replace the dollar.

The swap is being seen as a sign of China's ambitions in South America.

China primarily imports agricultural products from Argentina, while the South American nation buys Chinese electronic goods.

In the past, China has signed similar deals with South Korea, Malaysia, Belarus and Indonesia.

This is what they will tell you.......what they will not tell you is that Argentina is given to China the same amount but in "pesos", so that China can buy goods from Argentina bypassing the dollar.... so as you see there's two stories of this argument, the idea is to avoid the dollar in the commercial exchange, also the deal is for 3 years only with the option to be extended if both parties agree.

 

[Rad]

Thank God, Argentina is saved! Only a negative doomsayer denies that a currency swap between Argentina and China will make Argentina the only country in the World unaffected by the economic crisis.
A currency swap with China has already saved South Korea. Their GDP is contracting at a 20% annualized rate, but who knows, without the swap agreement, they could fall by 25% or 30%. So there is a proof that this must work...

 

[RWS]

. . . . Argentina [ha]s given to China the same amount but in "pesos" . . . .

Right: that exchange is what makes it a "swap". And that overweaning ambition on the part of the Chinese government to dominate globally is what I find, with the horrifying record of that government in treatment of its citizens -- its subjects -- and others, so fearsome.

 

[thomashobbs]

My standard response to any complaints about American imperialism is to inquire about their attitudes towards the coming Chinese empire.

 

[RWS]

Not a bad response, TH. 'Twill likely be nasty and brutish, if not short.

 

[Conorworld]

It looks pretty typical of Chinese economic foreign policy where it is setting base in countries with raw resources it needs. It is part of the nascent programme for Chinese imperialism I think.

 

[jp]

he Chinese government to dominate globally is what I find, with the horrifying record of that government in treatment of its citizens -- its subjects -- and others, so fearsome.

They also brought more people out of poverty than any other government in human history. Worth bearing in mind when critiquing their methods.

 

[Conorworld]

They also brought more people out of poverty than any other government in human history. Worth bearing in mind when critiquing their methods.

That has to be looked at in relation to a lack of democracy etc. Not saying that China is one but many a totalitarian state rapidly reduced their nation's poverty at the expenses of inalienable human rights.