China gives line of credit to Argentina 70 Billion Yuan

[perry]

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://online.wsj.com/article/SB123845815223971685.html?mod=googlenews_wsj

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

 

[tangobob]

There has always been a cultural link between Buenos Aires and China.
After all Buenos Aires is on the River Plate and most plates are made of China.
By the way my understanding is that they have agreed an exchange of currencies to avoid using the dollar rather than a line of credit. Still good news all round.

 

[Davidglen77]

Ok let's all go to Belgrano and celebrate this major financial event. Thank you China!!

 

[gouchobob]

While I agree this is good news for Argentina it also points out the economic problems there. Basically the Chinese are saying that they expect Argentina to have a tough time coming up with dollars, i.e. continued weakening and trouble converting the peso to dollars. I don't see this as a vote of confidence in the economy there but a way for the trade between the two countries to continue if the situation continues to deteriorate in Argentina.

 

[owenaj]

Personally I'm not ready to celebrate just yet.

Removing the dollar from the equation makes sense but this kind of relationship with China doesn't come without consequences. China's activity in Africa is reminiscent of commercial imperialism, let's hope the relationship with Argentina is on a more level basis.

Andrew

http://thesilverriver.blogspot.com/

 

[RWS]

Would any unbiased, rational being looking at the Chinese government and its practices over the course of three generations -- repression and execution of human beings whose ideas fail to accord with the rulers', destruction of peoples and environment, torture and eradication of animal life -- believe that anything which works to continue (let alone strengthen) totalitarianism is good? I think not; and I regret that Argentina should be complicit in such horrors.

 

[Napoleon]

China should own Argentina within 20 years and all of 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.

 

[DA]

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.

Good point Napoleon, This may happen a lot quicker.

 

[PBpalermo]

DA with his positive attitude is probably the only person who could not get laid in a whore house with 1 million bucks. You wreak of negative energy. Any positive thoughts or are you just a wasted soul?

 

[DA]

DA with his positive attitude is probably the only person who could not get laid in a whore house with 1 million bucks. You wreak of negative energy. Any positive thoughts or are you just a wasted soul?

You must have a lot of experience to know this.