MercoPress. South Atlantic News Agency
Argentine Senate passes China deals, Parlasur elections bills
Chinese President Xi Jinping signed the treaties with CFK in July Victory Front pushes forward with two projects aimed at reshaping the scenario in view of next year's presidential campaign.
Argentina's Senate has approved three economic and investment cooperation pacts with China, by 36 votes to 13 , sending the bill to the Lower House despite fierce criticism from the opposition, which questioned the financial advantages the sian nation would attain from the agreement.
Victory Front senators carried the proposals with 36 votes in favour, against 13 legislators who cast their ballot against the bill.
The main accord, which sets a regulatory framework for Chinese investments in Argentina, was signed on July 18 by Presidents Cristina Fernandez and Xi Jinping. The agreements also cover the granting of contracts for infrastructure works, as well as financing from Chinese banks and the simplification of work and residence permits for citizens.
“[The agreement] is geared towards a greater cooperation between Chinese and Argentine businesses with the goal of maintaining growth in both nations,” the Foreign Relations committee chief Ruperto Godoy told the Upper House.
“It is designed to enable the incorporation of greater added value and export capacity. It means entering the massive supply chain China has right now,” he added.
Radical senator Mario Cimadevilla, however, asked whether “we are now facing a new style of imperialism for the 21st century,” warning that “we have not seen such unfavourable conditions for the country since the Roca-Runciman pact.”
The Senate also passed into law a bill setting elections to the Mercosur legislative body (Parlasur) on the same date as 2015's national elections, which had previously received approval from the Lower House. In a last-minute meeting of the Upper House, the governing Victory Front saw the Parlasur elections passed with a total of 37 votes, against 12 senators who were against the proposal. The government had been determined to pass the measure before the start of 2015, the year in which the next presidential and national elections are to be held.
The bill had been passed by the Lower House on December 16 and is now ready to be signed into law by the Executive.
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Read all commentsLet's be fair. Argieland loves imperialism and colonialism. In this scenario we can see argieland voting to be part of the Chinese empire so it can be colonised. How much of argieland does China own? Roads, railways, tunnels, oil fields, farmland! Argieland can't afford to repay a tiny US$100 billion debt. How will it repay the Chinese debt? Still, it's easier to build bicycles and grow rice!
Dec 30th, 2014 - 11:49 am 0The Chinese companies get preferential treatment in infrastructure, mining, agro, and industrial projects with out by passing over call for bids. This was done in the 90s and it ended up with massive corruption cases. They get to bring their own folk at will and they will end up having their enclaves. They don’t produce local jobs as much as western investments do.
Dec 30th, 2014 - 02:06 pm 0“we have not seen such unfavourable conditions for the country since the Roca-Runciman pact.”
The “pact” is added to make it sound as a conspiracy it was just a standard treaty for the time and Argentina at least got what it needed at the time a fixed rate of beef to be exported to the British markets over Commonwealth producers.
This is far worse and more draconian by any standards. This will only widen the trade deficit with China over time and increase debt.
Still, I think the Chinese don’t understand Argentine mentality; they will grow suspicious and wanting them out so they will have to do a lot of bribing to stay doing business in Argentina.
“we are now facing a new style of imperialism for the 21st century,”
Dec 30th, 2014 - 05:48 pm 0If you liked occidental imperialism - you are going to just love it oriental style. lol
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