Look, China went into these deals knowing the countries would go belly up on their debt. China had a plan to exploit these governments beyond their ability to maintain their sovereignty. It is not Ecuador's problem, it is China's problem in carrying out an aggressive capitalist take over of sovereign nations. It is China's problem, not that of the indigenous peoples. China knew exactly what it was doing and completely disregarded the human rights of the people no different than it disregards the human rights of it's own citizens.
Give there are larger numbers of indigenous in the face of austerity, it should work out well.
By Nathan Gill - Jun 24, 2011 6:37 PM ET
Give there are larger numbers of indigenous in the face of austerity, it should work out well.
By Nathan Gill - Jun 24, 2011 6:37 PM ET
Ecuador’s bonds are rewarding investors (click here) with the best performance in Latin America as Chinese loans and higher oil prices boost confidence in the economy two years after the country defaulted on $3.2 billion in debt.
Ecuadorean dollar debt has returned 13 percent this year, compared with 5.2 percent for Latin American sovereigns on average, according to JPMorgan Chase & Co. Yields on bonds due 2015 fell 238 basis points, or 2.38 percentage points, this year to 9.59 percent. Similar maturity Brazilian bonds yield 1.9 percent, down 97 basis points from the end of December....
Oops, there goes the Chinese Renminbi. There has to be real consequences to China and making investments that inflict human rights violations is a good place to start. If China is going to play hardball with the Third World, they need to receive it in return.
If investors to China get caught up in the grind to stop human rights infractions, that's too bad, they knew better and greed drove their desire to back the deaths of innocent people.
Oops, there goes the Chinese Renminbi. There has to be real consequences to China and making investments that inflict human rights violations is a good place to start. If China is going to play hardball with the Third World, they need to receive it in return.
If investors to China get caught up in the grind to stop human rights infractions, that's too bad, they knew better and greed drove their desire to back the deaths of innocent people.
