Tuesday, August 18, 2009

The Debts of the Lenders: China Expands Trade Ties W/Argentina

Argentina. . . breadbasket of South America and home of thundering herds of cows. Chinese investors have kept Argentina in their eyes for quite some time now along w/another South American powerhouse, Brazil. Officials explain their reasoning below:

Interview: China's Guangdong province seeks more economic cooperation with Argentina

BUENOS AIRES, Aug 17, 2009 (Xinhua via COMTEX) --
by Juan Manuel Nievas, Alejandra del Palacio

China's Guangdong province is looking for more economic cooperation with Argentina, a visiting Guangdong government leader said Monday. Xie Pengfei, deputy secretary general of Guangdong and director of the Development Research Center of Guangdong, was here for a China-Argentia seminar.

There would be very good cooperation between both sides in the future, which would promote mutual economic development, Xie told Xinhua. The cooperation could be in the form of a joint venture or through direct investment by a Chinese company in Argentina, Xie said.
He added that his province, home to 95 million inhabitants, was developing rapidly and was ready to invest in Argentina, mainly in the technology, agriculture, vehicle and tourism sectors.
"We are open to everything in this country," he said.

Noting that Guangdong would have no problems with raising investment capital, Xie said: "We just have to find the right partner." Guangdong's gross domestic product grew 10 percent to 3.06 trillion yuan (420 billion U.S. dollars) in 2007. Bilateral trade between China and Argentina totaled 14.4 billion dollars last year, 45 percent more than in 2007, siad Yang Shidi, an economic adviser from the Chinese embassy in Argentina.

Guangdong also planned to invest in other countries, such as Brazil, Chile, Bolivia, the United States, Philippines, India and Australia, according to Xie.
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