06 June 2011

CUBA / CHINA: New Aid Promised To Back Raul's Economic Reforms.

AFP/

   President Raul Castro and Chinese Vice President Xi Jinping (left) signed 10 new cooperation agreements that will give financial support for Raul's economic reforms.
   Cuba was given a new line of credit and had two others restructured.
   A donation and a loan were will also modernize the public health system.
   Vice President Xi Jinping is touted by some observers to be China's next leader.


    China will also help modernize an oil refinery in Cienfuegos, build a new liquid gas plant there and improve the port.
    After Venezuela, China is Cuba's second largest trading partner...with $1.83bn usd last year.
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  Oops...there goes Cienfuegos...a city I have visited for years to see friends and family.
  It's a boring little city...but on a big beautiful bay.
  Hello China...and...considering China's horrendous environmental record...a big HELLO to even more pollution there...where I sometimes found it hard to breathe. 
  Most vehicles there, including local buses, have zero pollution controls...and the power plant has no scrubbers and spews thick noxious black smoke.
  China is apparently doubling down on its Cuban aid....hoping, no doubt, to benefit from any new oil/gas gushers (perhaps 20 bn bbls) in the Gulf.
   China also sees Cuba as a ready market for much-needed upgrades...and manufacturing...of trains, buses and cars.