But China's doing more than just purchasing resources on the open market. It's also supplying aid and investments in resource-rich countries. This supplies China with three immediate benefits:
First, they obtain the resources they need to sustain a rapidly growing economy ...
Second, they rid themselves of the huge war chest of rapidly devaluing USdollars ...
And third, they gain powerful allies across the globe in their quest for world domination ...
China has also been handing out billions through its China Export-Import Bank.
President Jiang Zemin argues as follows: "Regions like Africa, the Middle East, Central Asia, and South America, [have] very big markets and abundant resources; we should take advantage of the opportunity to get in." And China has been taking advantage of this opportunity in a big way. For instance, in the last 7 years China has invested as much as $75 billion in Latin American countries -- more than the World Bank, Inter-American Development Bank and the United States Export-Import Bank combined. Plus, they've directed a lot of those resources to countries that the West has ignored, like Ecuador, Venezuela and Argentina -- countries right in our own back yard. Examples: China has pledged to lay down $12 billion in railway lines in Argentina, gave $1.6 billion for a hydroelectric dam in Ecuador, as well as $20 billion for infrastructure construction in Venezuela.
But it's not just Latin America where the Chinese are investing so heavily. They recently agreed to grant Russia $6 billion loan for infrastructure in exchange for the Russian coal supplies over the next quarter century. Plus they recently struck a deal to expand the capacity of the Greek port of Piraeus up to 250%, in exchange for easier access to European shipping lanes. They've also recently pledged $20 billion in investments across Africa, which will go to build roads, railways, schools, hospitals, agriculture and manufacturing projects, and to small and medium-sized business development.
The Chinese are clearly on a mission to not only secure resources around the globe but to establish goodwill as well. As stated at the outset of this article, they're obviously looking for partners and "friends.' And they've been doing this for the past decade: Using their massive war chest of USdollar reserves to buy allegiances around the world -- which they have decided is a much better investment than ever more US Treasury bonds! They understand they'll need a strong global backing, with plenty of partners and "friends,' to secure the final step in their plan to take down America and take its place as the world's preeminent superpower, and be the new supplier of the world's reserve currency.
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