By many estimations, China has long been the flourishing adolescent of world economies, compared to her ‘grown-up’ European neighbors and, of course, her Uncle Sam.
But anyone with ears knows that the Chinese market has been growing up quickly, eating her vegetables and spreading her influence across continents. One place she’s been very interested lately is Latin America. (Her Uncle makes it a point to bring this up at dinner conversations.)
Recently China was able to land an agreement with Argentina to build two nuclear power plants. The deal was struck after Argentine President Cristina Fernandez de Kirchner took a three-day visit to China, where she negotiated with Chinese President Xi Jinping over things like media, space technology and financing in addition to the two new nuclear power plants.
The agreement is that China will finance the project if Argentina uses Chinese nuclear power technology. This will give the Chinese a chance to compete with Canada and Germany, who also have nuclear plants in Argentina. Construction on the sites is slated to begin at the end of the year.
Posted by: Hunter Carter