More matter with less art

China and Latin America

Two reports today:
1) China offers CELAC (LatAm/Carib zone) a U$20Bn fund for infrastructure works. The fund will have an initial capital of U$10Bn and will be targeted at projects that promote economic development in the region.
2) China enters into a U$11Bn monetary swap with Argentina (similar to the deal the two countries did in 2009), which allows Argentina access to the dollars at an expected interest rate of between 6% and 7%. So much for the dollar squeeze predicted by the North.
So while you consider China as some sort of threat, we down here get to thinking, “Hey Whitey, what have you done for us lately? Apart from bomb us, of course.

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