…with the (Chinese) Yankee dollar bill
If there’s one conundrum that has baffled your Eyewitness, it’s the US investment in China and imports of manufactured goods since the 1980s.
For goodness’ sake, the US knew that China was a communist country – but unlike Russia, which faltered – with a population heft that, if given the economic momentum, could sweep them out of the way. But as they say, money talks…and national interest walks when the business elite see themselves losing profits to competitors like Germany and Japan. So, they were able to convince (read contributing campaign funding!) the politicians to look the other way.
So, today we have China poised to overtake the US as the number one economy in the world – but, more critically, holding US$3.2 TRILLION DOLLARS in foreign reserves!! Now, just for the unwary, a trillion is 1000 billion. And in case you wondered, this is just about HALF of the world currencies, like German marks or Japanese yen, that China owns. Now, when you have that sort of money sitting in your vault, you’re like the elephant at a party – you can sit anywhere you damn well please, or dance with whichever girl who catches your eye!!
Right now, over one trillion US dollars that China has sloshing around in its (deep) pockets direct US debt – in the form of T-Bills. Do you realise how much influence this has for the stability of the dollar and US interest rates? So, this expansive introduction now brings us to the subject your Eyewitness wishes to comment on – the US$1.5 billion the Government is alleged to be negotiating to borrow from China to finance some of the mega infrastructure projects it had announced.
Like the Amalia Hydro Power Project, the new West Demerara highway from the new DHB to Parika, the continuation of the East Demerara Highway to Mahaica, and so on and so forth. Now, we always knew that these projects wouldn’t drop on us like manna from heaven! So where do we get the money? Most thought we’d be using the deluge of oil money that would be pouring out from under the Atlantic Ocean.
But by now we can see that stream of funds will take some time to build a gusher…all we have right now is US$400M. So, do we wait?
Nah…not when the Chinese are willing to lend from their stash!!
…but still no satisfaction
When your Eyewitness thinks about the PNC’s five years at the wheel of our ship of state, he’s reminded of one of the biggest rock hits by the Stones, “I can’t get no…satisfaction”/Echoing the Guyanese people between 2015 and 2020, they crooned, “Cause I try, and I try, and I try, and I try/I can’t get no, I can’t get no/When I’m drivin’ in my car, and the man comes on the radio/ He’s tellin’ me more and more about some useless information/Supposed to fire my imagination”.
That’s all the PNC did – provide “some useless information” on things like changing the constitution to make our country work – to fire our imagination – but instead just pilfered from the Consolidated Cookie Jar!! And after trying to steal the elections from under our noses, are still refusing to accept that their supporters have moved on.
But they can still survive. If they don’t rig the election for their leader!!
…but claiming discrimination
The PPP’s doing their darndest to help the neediest sections of the society – pensioners, flood victims, schoolchildren. But to listen to the professional mourners of the PNC, it’s all going to one section.
Some proof, please.
