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China says to offer $10 billion in loans to Shanghai Cooperation Organization member states
Reuters ^ | Wed Jun 6, 2012 10:21pm EDT | (Reporting by Sui-Lee Wee; Editing by Ken Wills)

Posted on 06/06/2012 8:45:10 PM PDT by Olog-hai

Chinese President Hu Jintao said on Thursday that Beijing will offer $10 billion in loans to the member states of the Shanghai Cooperation Organisation.

The SCO, founded in 2001, includes China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran, India, Pakistan and others attend the summits, but not as full members.

"China has decided to give to the other member states $10 billion in loans," Hu said in a speech broadcast on state television. He did not elaborate on how the funds would be used. …

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Government
KEYWORDS: china; loansharking; redchina; sco
Wonder what the loan terms will be, and if they'll be as draconian as those issued by another country whose name will not be mentioned that likes to give loans to its neighbors in exchange for sovereignty . . .
1 posted on 06/06/2012 8:45:22 PM PDT by Olog-hai
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To: Olog-hai

And we think being a taxpayer here sucks, imagine China.


2 posted on 06/06/2012 9:11:47 PM PDT by Impy (Don't call me red.)
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