Argentine President Christine Fernandez de Kirchner needed a train, so she went to China. After a short meeting with Hu Jintao, she announced railway deals totaling $10 billion.
Any question who’s at the wheel of the world economy these days?
The 10 railway projects – ranging from two to five years – include the purchase of Chinese railway technology and investments in Argentina’s rail line electrification projects, Argentine Transport Minister Juan Pablo Schiavi told AFP. Other deals cover areas like infrastructure, fishery, energy, and plant quarantine.
The two countries agreed to collaborate in light rail and subway construction in Argentina. China will also provide export credit to Argentina for purchases of locomotives.
This comes days after China bought the majority share in Ecuador’s infrastructure. China has also been buying up oil projects around the world, and is even in line to build high speed trains in California.
Come to think of it, large swathes of the U.S. could use some real infrastructure too. Hu’s gonna do it?