Submitted by Dijana Maric on Tue, 24/09/2013 - 14:51
China just bought 5% of Ukraine
As part of the deal, China’s Export-Import bank has given Ukraine a $3 billion loan for agricultural development. In exchange for its produce, Ukraine will receive seeds, equipment, a fertilizer plant (Ukraine imports about $1 billion worth of fertilizer every year), and a plant to produce a crop protection agent. XPCC also says it will help build a highway in Ukraine’s Autonomous Republic of Crimea as well as bridge across the Strait of Kerch, a transport and industrial center for the country.
Critics say the move exemplifies a slew of global land deals that smack of colonialism and resource extraction by richer countries in poorer ones.