Subscribe via E-Mail

Get all of our news delivered fresh to your inbox every morning! Just tell us your name and where to send it using the form below.

PS – We hate spam too. We don’t sell or share our list with anyone, and we never send commercial email.




luxe
Friday, January 29th, 2016  |  USD: Buy 531.29 / Sell 543.92
20 years

China’s Xi inks trade deals with Costa Rica, including $900 million refinery

Email this page

Xi and Chinchilla

AP photo.

June 4th, 2013 (VOA) - Chinese President Xi Jinping has signed a number of major trade deals with Costa Rica, as he continues this week’s tour of Latin America.
After meeting with President Laura Chinchilla in San Jose on Monday, Xi said Beijing’s relations with Costa Rica could become a “model of cooperation between countries of different sizes and national conditions.”
Costa Rica is the only Central American country to have diplomatic relations with Beijing rather than Taiwan. China, in return, has rewarded Costa Rica with a number of lucrative trade deals and diplomatic perks.
Among the nine deals signed Monday is a $900 million line of credit to help upgrade an oil refinery on Costa Rica’s Caribbean coast. Beijing also provided loans to help improve Costa Rica’s roads, public transit vehicles, and the construction of a new police school.

Xi arrived in San Jose following a three-day stop in oil-rich Trinidad and Tobago. On Tuesday, he will visit Mexico, where he plans to find ways to increase exports from there to China.
On Friday and Saturday, he will meet with U.S. President Barack Obama at an informal summit in the western state of California.

costa rica news

ATTENTION: If you are seeing this message,


Advertisement


Get our news delivered fresh to your inbox every morning.

Click here to subscribe to our email list. We hate spam too and never send commercial email.

Like us on Facebook and receive our news in your timeline

  • Patrick Smyth

    Lines of credit and loans to a country that has difficulties making payroll? Wonder what the conversion of debt terms are.

    • disgusted

      We all know this is not good. Communist China now owns the heart and
      soul of CR. Top Government officials licking their collective chops on
      this getting their “‘consultant fee’s”". So sorry Costarricenses your
      never going to be able to repay this debt as more piles on. The Dragon is gobbling up small countries and taking a bite of USA as well.

      • Randy Roden

        @ disgusted: Truer words were never spoken! Want an example? Look at the U.S.A. The U.S.A. owes COMMUNIST CHINA several TRILLION DOLLARS. How long do you think it will take to pay them back?? China now enjoys Favored Nation Status. Which means,The U.S. is willing to import more,and export less to them. STUPID!!!!

        • Singe

          China has actually decreased its holdings of U.S. debt over the past
          year, dropping from $1.31 trillion in June 2011 to $1.16 trillion a year
          later, according to the Treasury Department. Japan holds nearly as
          much, at $1.12 trillion.

  • Marcel M. Pfister

    May I remind my US economic “experts” here that this entire nonsense of “communist” China owning the heart and soul of Costa Rica is about as far-fetched as claiming that Costa Rica is owned by the US. As a small country, it’s always lopsided dealing with large economies such as the US or the PRC. As for China being “communist”, that’s really in the eye of the beholder. Chinese is a centralized one party state. Economically, it is about as capitalist as they get. Politically, it is a closed-circuit system and doesn’t have any pluralism such as the US or Costa Rica. We did the right thing opening up to the PRC. Allow me to remind you that it was President Nixon who visited Chairman Mao in 1972 and ended up abandoning an old US ally, the Republic of China (Taiwan). The rest is history. Costa Rica did that step only in this century during the second Arias administration. I see absolutely nothing wrong with it whatsoever. To paraphrase Oscar Arias: We cannot continue to ignore the most populous nation on earth based on some backward-looking political concept.

Popular Content