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China's cash buys inroads in Caribbean
Posted By -NO AUTHOR- On 04/07/2012 @ 10:41 pm In Money,World | No Comments
(New York Times) NASSAU, the Bahamas — A brand new $35 million stadium opened here in the Bahamas a few weeks ago, a gift from the Chinese government. The tiny island nation of Dominica has received a grammar school, a renovated hospital and a sports stadium, also courtesy of the Chinese. Antigua and Barbuda got a power plant and a cricket stadium, and a new school is on its way. The prime minister of Trinidad and Tobago can thank Chinese contractors for the craftsmanship in her official residence.
China’s economic might has rolled up to America’s doorstep in the Caribbean, with a flurry of loans from state banks, investments by companies and outright gifts from the government in the form of new stadiums, roads, official buildings, ports and resorts in a region where the United States has long been a prime benefactor.
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