Download China’s Foreign Aid and Investment Diplomacy, Volume II: by John F. Copper PDF

By John F. Copper

This three-volume paintings is the 1st finished learn of China's overseas relief and funding international relations to track its evolution because the PRC's founding in 1949. quantity II offers an research of China's international reduction and funding to nations and nearby corporations in Asia from 1950 to the current day, examining overseas coverage objectives.

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Additional info for China’s Foreign Aid and Investment Diplomacy, Volume II: History and Practice in Asia, 1950-Present

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2 billion 34 ● China’s Foreign Aid and Investment Diplomacy, Volume II annually making China Indonesia’s number two trading partner. 309 In early 2011, Chinese premier Wen Jiabao visited Indonesia and promised a mammoth $19 billion in financial help: $10 billion in export credits and $9 billion in soft commercial loans. Wen also said China would “give” Indonesia $154 million for maritime cooperation. China was interested in Indonesia’s resources, its markets, and its support for China’s relations with ASEAN.

243 The Philippines When Mao established the People’s Republic of China in 1949, he did not pursue formal or otherwise meaningful ties with the Philippines owing to its close and cordial ties with the United States and the large and important American military bases there. 245 There were other sources of antipathy. 246 It wasn’t until 1975 that China established ambassadorial ties with Manila. This came after China was admitted to the United Nations and had secured diplomatic links with most countries in the world.

The project was approved in 2004; six years later not a mile of the railroad had been built. The original loan was for $400 million and the project was to ferry 150,000 passengers a day in and out of Manila. Later another line was added to connect Manila with the large former US Air Force base in central Luzon—now a special economic zone. 275 The loan was very concessionary: a 20-year repayment period at an interest rate of 3 percent and a 5-year grace period, with which other nations and even international financial organizations could not compete.

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