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China and the Caribbean gain mutual benefit from the cooperation
2012-08-09
Brief:Chinese government supported Bahamas to build a brand new $35 million stadium,the cooperation of China and the Caribbean which has various kinds of commodities, will create a new situation of mutual benefit.
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 announced late last year that it would lend $6.3 billion to Caribbean governments, adding considerably to the hundreds of millions of dollars in loans, grants and other forms of economic assistance it has already channeled there in the past decade.

The cooperation of China and the Caribbean which has various kinds of commodities, will create a new situation of mutual benefit. In August, a Chinese company, Complant, bought the last three government sugar estates in Jamaica and leased cane fields, for a total investment of $166 million. Last year, Jamaica for the first time shipped its famed Blue Mountain Coffee to China.

The Jamaican government has also received several hundred million dollars in loans from China, including $400 million announced in 2010 over five years to rebuild roads and other infrastructure.

" In order to be prosperous you need to build roads first,” said Adam Wu, an executive with China Business Network, a consulting group for Chinese businesses that has been making the case for China in several Caribbean countries.

In some places, Chinese contractors or workers have stayed on, beginning to build communities and businesses.

Trinidad and Tobago has had waves of Chinese immigration over the past century, but locals are now seeing more Chinese restaurants and shops, as well as other signs of a new immigrant generation.“I am second-generation Trinidadian-Chinese, and like most of us of this era, we have integrated very well in society, having friends, girlfriends, spouses and kids with people of other ethnicities,” said Robert Johnson-Attin, 36, a mechanical engineer now with his own successful business.

Here in the Bahamas, Tan Jian, the economic counselor at the Chinese Embassy, said he that believed that it’s the start of the Chinese presence across the Caribbean, casting it as one developing country using its growing economic power to help other developing ones. The Bahamian government, he said, “cannot afford to build huge projects by itself.” The $35 million gift “is costing us $50 million,” said Mr. Maynard, the sports minister.“But at the end of the day it will pay for itself” by putting the Bahamas in position to host major sporting events and reap the tourism revenue that comes with that.

For Baha Mar, the Chinese Export-Import Bank is financing $2.6 billion, nearly three-quarters of the cost, and China’s state construction company is a partner. The Bahamas agreed to allow up to 8,000 foreign workers, most of them Chinese, to work on the project in stages, but it also required employment for 4,000 Bahamians, dampening concerns that Chinese workers were taking jobs. American companies will also take part in building and running it.

The New York Times

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