The Vice President of China is here with a trade delegation.
It is my belief that China is going to be the dominant global economic power in the next two decades. While I'm not an economist, all the signs are there. In the past 15 years, China has shown amazing growth in trade liberalisation, structural reform, privatisation of the agricultural sector, support of rural enterprise, and foreign investment. Another indicator is that China joined the WTO on December 11th 2001.
My first question was, "what are they doing here?". I read that a framework agreement for a concessional loan of TT$152,238,240 at a rate of two per cent per annum was signed for future financing.
Who gives anyone that kinda of money for "future export financing ventures"? It proves that China has done its homework excellently. The ball is now in our court to make sure it goes into the purpose it was given for, not in various pockets. How can I, as a taxpayer, ensure that this money is spent in a transparent and accountable way since my tax dollars pay it back at 2% per annum interest. I don't have a phreakin' clue.
Why do we need a loan from a foreign government when we are sending money free sheet to Grenada and others? Someone needs to investiquire this...
It is my belief that China is going to be the dominant global economic power in the next two decades. While I'm not an economist, all the signs are there. In the past 15 years, China has shown amazing growth in trade liberalisation, structural reform, privatisation of the agricultural sector, support of rural enterprise, and foreign investment. Another indicator is that China joined the WTO on December 11th 2001.
My first question was, "what are they doing here?". I read that a framework agreement for a concessional loan of TT$152,238,240 at a rate of two per cent per annum was signed for future financing.
Who gives anyone that kinda of money for "future export financing ventures"? It proves that China has done its homework excellently. The ball is now in our court to make sure it goes into the purpose it was given for, not in various pockets. How can I, as a taxpayer, ensure that this money is spent in a transparent and accountable way since my tax dollars pay it back at 2% per annum interest. I don't have a phreakin' clue.
Why do we need a loan from a foreign government when we are sending money free sheet to Grenada and others? Someone needs to investiquire this...
1 comment:
Spend on building some roads, maybe? And not at uber-inflated costs either!
Ana - Independence of
Mind
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