The benefit for Hohoy was it got a lower rate from China than it would have done from Western companies. In the case of Hohoy, it's interesting because that solar farm is now hooked up to the grid and the energy that they can sell to the grid, they're now making tens of millions of dollars a quarter off. So there's an immediate return there and an immediate revenue stream to be able to start paying back the debt.
As China seeks to grow its economy and increase its global influence, it’s lending billions of dollars to help governments around the world fund big, expensive projects that otherwise would be out of reach. In Asia, Africa–and, notably, in Latin America, next door to the US.
That money could pay off politically, too, in the ongoing rivalry between Washington and Beijing. For a look at China’s global projects–and what its leaders hope to accomplish with them–Rebecca Choong Wilkins joins this episode. She’s a Bloomberg government reporter based in Hong Kong.
We then talk with Jonathan Gilbert, a reporter based in Buenos Aires, who describes what happens when China comes calling with lots of cash. And Dan Ten Kate, who oversees Bloomberg’s government coverage in Asia, stops by to explain why the US has been so slow to respond to China’s advances in the region.
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