China is building global dominance - the latest - the country is lending money to other nations, traditionally provided by the World Bank, the Asian Development Bank, the United States, and Japan. We continue on our quest for free-trade while China ignores all rules of the game - including under-valuing their currency, labour conditions and wages, environmental concerns, and now playing the role of international bodies.
All this because our politicians are slaves to big business while ignoring the people who elected them.
Despite the fact that we are losing corporate headquarters, natural resources, and millions of jobs, the West keep feeding the unending greed of the corporate culture.
The following excerpt is from an informative story by the New York Times.
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The Chinese money usually comes unencumbered with conditions for environmental standards or community resettlement that can hold up major projects. The aid does not carry penalties for corruption that are being increasingly used by the World Bank president, Paul D. Wolfowitz. And China’s offers rarely include the extra freight of expensive consultants, provisions that are common to World Bank projects.
For its part, China benefits from the added infrastructure — roads, ports and bridges — in the underdeveloped but growing region around it, to help increase trade and to move natural resources from China’s periphery to its heartland.
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Read the full story!
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