Friday, February 6, 2015

China emerges as Latin America’s lender of last resort - The Washington Post

As soon as Argentine President Cristina Fernandez de Kirchner landed in Beijing this week she began lauding new deals with what she called the world’s “No. 1 economy,” ranging from two proposed nuclear power plants to joint space exploration.

With her country’s economy contracting and its supply of dollars dwindling, Fernandez arrived Monday looking for help from China, which has already lent Argentina $14 billion since 2007. By the end of her trip Thursday, the two countries had agreed on $6.8 billion of financing for the construction of two hydroelectric dams and a railway, according to Chinese state media.

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