What Economic Recovery? China invests billions into America’s backyard, the U.S. is no longer a beacon of Hope

“China represents hope for the poorest nations of the world and its impressive development springs from its own resources…not exploiting or pillaging other nations.”-Orlando Hernandez Guillen, Cuban Vice Minister of Trade and Investment

China is fast replacing the influence of the United States on Caribbean countries.

“China has become an important source of foreign direct investment for us.”–  Edmund Bartlett, Jamaica’s Tourism Minister

The China Development Bank will issue U.S.$1 billion in loans to countries like Cuba, Jamaica, Barbados and the Bahamas.  China has already invested billions in Caribbean countries in recent years.

China buys nickel, sugar and other products from Cuba, and Cubans buy Chinese made cars.

China is planning to invest more than U.S.$400 million to revive a beachfront resort project in the Dominican Republic.

The Chinese are helping Jamaica build new ports, a conference center, highway projects and a cricket stadium.

If anybody remembers the Cold War, or knows that history, they would know that there was a time when the U.S. government would not tolerate Chinese involvement in “America’s backyard”.