China bailout for Jamaica

Discussion in 'Economics' started by ASusilovic, Apr 26, 2009.

  1. WASHINGTON (AFP)--The United States risks losing influence to China because it is too slow to deliver aid to needy nations, Secretary of State Hillary Clinton warned Thursday.

    Speaking to a congressional committee, Clinton cited the example of an emergency deal signed by China last month to help bail Jamaica out of its financial crisis.

    "They (Jamaica) have just signed a memorandum of understanding with China...and now they have got a government-to-government relationship with China," Clinton said.

    "We have to be sure we have in place the safeguards so that the money goes where we intend it to go," Clinton told the subcommitee on foreign operations of the House Appropriations Committee.

    She also urged Congress to move quickly to deliver aid for Mexico's drug wars.

    "It's just too slow, and when I was in Mexico, that's what I heard from both the president and the foreign secretary," Clinton said, referring to talks with Felipe Calderon and Patricia Espinosa last month in Mexico City.

    She said the United States, for example, has been slow to release the money needed for Blackhawk helicopters to fight the drug cartels.

    "Let's try to get to the bottom of this because you all do your work, you get it appropriated, I go around talking about what we need to do and it's kind of hollow, and we're losing ground," Clinton said.

    "And we're seeing particularly China come in right behind us, because countries get tired of talking to our bureaucracy and decide they're going to cut a deal with someone else."

    Clinton cited a report in The Washington Post saying China and Jamaica signed contracts for loan packages totaling $138 million in March.

    The newspaper also said China had signed multi-billion-dollar loans for oil with Russia, Kazakhstan, Brazil and Venezuela. It also showed Beijing had signed multi-billion dollar currency swaps with Hong Kong, South Korea, Indonesia, Malaysia, Argentina, Belarus and Russia.

    The newspaper said Jamaica went to China because the United States was preoccupied with its own financial problems.
  2. [​IMG]

    The party can continue, with poorly built catamarans bearing the names of "Cool Runnings" and "Cool Cool Runnings" continue to fill with partygoers in Ocho Rios :D
  3. new$


    "We have to be sure we have in place the safeguards so that the money goes where we intend it to go," Clinton told the subcommitee on foreign operations of the House Appropriations Committee.

  4. I hear China is interested in Jamaican agricultural commodities, i.e. weed :cool:
  5. Many Latin countries would do well to cut deals with China....

    They already have....

    There are retail boxes already whereby few items are not Chinese made....

    Furthermore....The smaller Latin countries are in a $200 to $600 per month world....more like China in this regard....

    Locals cannot afford to stay in their own hotels or utilize their own best folks from NJ....NY...Euro etc....own them....

    There is an incredible opportunity for China to expand their influence in this region....

    And they help secure sales ....and natural resources....

    The region should also use currency swaps when beneficial to both Argentina, etc...and they will....

    Cars ie the Nano type....and lower priced Chinese electric vehicles will do well in this region....
  6. Eight


    Hillary should lighten up and be a little less shrill.

    Smoke some weed Hill, inhale it, yes, get high, take a few hours off... you'll see that those helicopters are just going to be new toys for the Mexicans. They won't cut the trafficking down at all there Hill baby... likely they will use them to transport...
  7. It was not a bailout, it was a loan from China.
  8. lol
  9. Jamaican + Chinese = Rice-tafarian?? (whole lotta mercy!:cool: )
  10. Kung Voo-Doo ?
    #10     Apr 27, 2009