and MAURICIO MACRI, newly elect president of ARGENTINA wants to cut economic ties with CHINA and RUSSIA in order to recuperate eco – political ties with the stagnating economies of the US and EUROPE.
CHINA WILL IMPORT MORE THAN $10 TRILLION IN COMMODITIES
Continuing the carrot and stick approach to international trade, Premier LI KEQIANG told poorer EUROPEAN and LATIN AMERICAN nations that CHINA would likely invest in their countries and import their products if they promised to buy CHINESE products over the next five years, CHINA is looking to invest more than $1 trillion in eastern EUROPE and LATIN AMERICA and import more than $10 trillion in commodities, state-backed news site CHINA Daily reported.
Speaking at the fourth summit of CHINA and central and eastern EUROPEAN countries in SUZHOU, LI addressed the heads of 16 central and Eastern EUROPEAN nations. He said CHINA could help provide more flexible funding conditions to those countries as well as to some countries in LATIN AMERICA to upgrade their infrastructure, as long as they use CHINESE equipment and products, according to the state paper.
He also said CHINA was exploring the possibility of establishing a multilateral financial institution with Central and EASTERN EUROPEAN countries as well as countries in LATIN AMERICA, as well as a joint fund that would be denominated in CHINESE yuan.
By ASIA Unhedged