How China's rapidly expanding footprint in Ecuador speaks volumes about changing world order
EL CHACO, ECUADOR: Where the Andean foothills dip into the Amazon jungle, nearly 1,000 Chinese engineers and workers have been pouring concrete for a dam and a 15-mile underground tunnel. The $2.2 billion project will feed river water to eight giant Chinese turbines designed to produce enough electricity to light more than a third of Ecuador.
Near the port of Manta on the Pacific Ocean, Chinese banks are in talks to lend $7 billion for the construction of an oil refinery, which could make Ecuador a global player in gasoline, diesel and other petroleum products.
Across the country in villages and towns, Chinese money is going to build roads, highways, bridges, hospitals, even a network of surveillance cameras stretching to the Galapagos Islands. State-owned Chinese banks have already put nearly $11 billion into the country,and the Ecuadorean government is asking for more.
Ecuador, with just 16 million people, has little presence on the global stage. But China's rapidly expanding footprint here speaks volumes about the changing world order, as Beijing surges forward and Washington gradually loses ground.
http://economictimes.indiatimes.com/news/international/business/how-chinas-rapidly-expanding-footprint-in-ecuador-speaks-volumes-about-changing-world-order/articleshow/48214175.cms
What beneficial and altruistic exploiters the Chinese are!
