Far from being turned into a neo-colony, Ecuador has used oil deals with China to earn cheap credit, which has enabled it to re-enter international markets on favourable terms. Its sovereignty has not been compromised; Beijing’s loans look more like an attempt to buy goodwill from Quito than any form of economic imperialism. Ecuador has skilfully exploited what Beijing is offering. .
Ecuador’s shrewd oil deals disprove ‘Chinese colony’ claims
THERE has been a spate of news stories over the past year alleging that China has taken control of the Ecuadorean oil industry.[[quote]]
The articles often go beyond that, stating that Beijin...