…US’ vs China’s financing
Some folks – esp the Yanks – had implied Guyana was getting too chummy with China – especially after signing on to that country’s Belt and Road Initiative (B&RI). It’s no secret America sees China as its major threat to its numero uno position in the world. And that’s not just economically – in which China has practically already pipped them – but militarily, where China still has quite a way to go!! So, with its 200-year-old Monroe Doctrine, it isn’t surprising the Yanks look askance at countries tightening ties with China – especially in this hemisphere. “Monroe Declaration”??
So, here we are with that loan that built the new CJIA; several highways; the Demerara Bridge, and so on – all with Chinese financing. They insist their B&RI lending has “Chinese Characteristics”. And what are these characteristics? Well, they say that having been at the receiving end of Western “loans and aid” – from institutions like the IMF and World Bank – like the rest of the developing world, they know where the shoe pinches. And they strive to remove those pinches. The first thing they do is to declare right up front that all of their loans would be on concessional terms!!
Now that’s quite a commitment – since, with the Western institutions, to get concessions on interests or default penalties etc, you have gotta stand on your head and wring your ears while accepting “conditionalities” that pretty much is tantamount to sacrificing your firstborn!! The second difference is they’re committed to helping developing countries improve their infrastructure, and, as such, don’t ask too many questions on feasibility etc. Now, the West didn’t take all of this sitting down – especially since the Chinese were doling out the funds they owed China for becoming their workshop!! China was outcompeting them for influence with their own money!! So, they pushed the line that Chinese loans were too much of a good thing!! The catch was that the projects weren’t viable, and on defaulting, the Chinese would walk in and take over the infrastructure!! Sounded reasonable – save that there weren’t that many projects that the Chinese actually took over!!
Well, after being pulled up by the Yanks, last year, our Government signed a US EXIM MOU for US$2B to finance infrastructure etc – obviously with US companies. This July, they applied for a US$660M loan to help finance the Wales Gas-to-Shore power generation plant – for which they had already signed a contract with an American firm. But no approval yet!! What gives? US EXIMBANK consultants gotta complete their “assessments” and “analyses” – with on-site inspections. THEN US Congressional approval AND final approval by US EXIMBANK’s board have to be granted. Meanwhile, our Govt has already sunk US$100M in the project!!
By now the Chinese would’ve financed three generating plants!! America’s gotta do better!!
…politics in plural societies
The judicial reaffirmation of Bouterse’s conviction for murder of fifteen of his opponents back in 1982 reminds us that their more open acceptance of ethnic politics hasn’t done that much for them, has it?! Unlike us, from the beginning they embraced ethnicity – and their political parties were all openly ethnically-based. Even to the point where Maroons had their own party – different from the Mixed and Creoles!! Then, of course, they have their “Hindustani” party for Indians – including Indian Muslims! And their Javanese party.
One positive outcome of this open acceptance of diversity – their motto is “Unity in Diversity” – was that coalitions became an acceptable option for forming government. Unless, of course, one party could get a majority on its own. But one weakness of coalition governments was also exposed – and which has brought Suriname to its knees – featherbedding!!
This is where all party’s supporters have to be given some sorta reward – invariably from the Government treasury – which ain’t infinite!!
…Mad Maduro and Stalin
Stalin killed about 6 million of his people – rising to 9 million if foreseeable deaths arising from policies are taken into account. By this December, Mad Maduro’s policies have forced 8 million Venezuelans to flee.
