New York Times: Beijing Consensus and the ‘The New Bank’s in Town’ charm offensive in the Caribbean region is getting U.S. attention.
Showing gratitude for being on China’s ‘One-China’ side, China hands over a brand new $35 million stadium to the Bahamas as a reward for breaking ties with Taiwan back in 1997; two years after laying the first bricks. China’s relations with the commonwealth have been more than taking root…
Welcome to Baha Mar: Work begins on $3.4bn Bahamas resort… with a lot of help from China (Daily Mail, Feb 22, 2011) – Work has begun on an ambitious China-backed £3.4billion megaresort in the Bahamas that is so big it could boost GDP in the group of tiny Caribbean islands by 10 per cent.
China heads to the Bahamas to build massive US$3.4 billion resort (CNNGo, Feb 22, 2011) – A groundbreaking ceremony was held in Nassau, Bahamas, on February 21, and was attended by ministers of the Bahamas and presidents of Chinese enterprises that are funding and helping to build it.
Check out the Baha Mar’s official website here.
How about having friends who owes it economic favours just 190 miles away from U.S. territory? That seems to be the underlying message.
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China Buys Inroads in the Caribbean, Catching U.S. Notice
By RANDAL C. ARCHIBOLD
Source – New York Times, published April 7, 2012
NASSAU, the Bahamas — 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’s economic might has rolled up to America’s doorstep in the Caribbean, with a flurry of loans from state banks, investments by companies and outright gifts from the government in the form of new stadiums, roads, official buildings, ports and resorts in a region where the United States has long been a prime benefactor. Read the rest of this entry »