China says cancels debt owed by Iraq

[Eugene]

Source: Reuters

China says cancels debt owed by Iraq

Reuters - 44 minutes ago

BEIJING (Reuters) - China on Thursday forgave Iraq's debt
owed to the Chinese government and pledged to help rebuild
the country's war-shattered economy.

"China has always been supportive and has participated in the
rebuilding of Iraq," foreign ministry spokesman Qin Gang told
a regular news conference.

-snip-

Commerce Minister Bo Xilai later signed an agreement with
Iraqi officials to cancel the debt owed the Chinese government.
No details were provided.

Iraqi President Jalal Talabani has just begun a week-long trip
to China.

Talabani will meet China's President Hu Jintao, Premier Wen
Jiabao and top legislator Wu Bangguo.

-snip-


Read more: http://uk.news.yahoo.com/rtrs/20070621/twl-uk-china-iraq-b69588a.html

[acmavm]

1. Why does this make me nervous? China getting in on anything the US

is involved in makes me nervous.

[Eugene]

3. It's interesting that Iraq's oil minister is in China along with Talabani

according to this article in today's Guardian:
Iraqi politicians agree deal on sharing oil, says Kurd minister

The Chinese might want their Saddam era oil contracts to be honored.

[Javaman]

2. This is called playing it smart...

China is doing everything the opposite of the U.S.

Once upon a time, when our "government" had brains, they would have done something like this as well, but then again we wouldn't have invaded a country for no reason other then profit for oil and the weapons manufacturers.

We create the vacuum, china fills it.

better brush up on that cantonese real quick, it's going to come in very handy in a few years.

[Vidar]

4. Good for China.