A trade war between Canada and the US is like a fight between a mouse and an elephant. It would make far more sense for Canada to show the US the proverbial finger and adopt unilateral global free trade.
UNILATERAL GLOBAL FREE TRADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
With the likes of China, Russia and Iran???????????????????????????????????
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Here is an article illustrating how dangerous it is to create close economic ties with Red China as Our idiot Boy Justin wants to do. With some comments of my own in brackets):
It Doesn’t Matter if Ecuador Can Afford This Dam. China Still Gets Paid.
By NICHOLAS CASEY and CLIFFORD KRAUSS
Published: Dec 25,2018
REVENTADOR, Ecuador — The dam sits under the glare of an active volcano, with columns of ash spewing toward the sky.
Officials had warned against the dam for decades. Geologists said an earthquake could wipe it away.
Now, only two years after opening, thousands of cracks are splintering the dam’s machinery. Its reservoir is clogged with silt, sand and trees. And the only time engineers tried to throttle up the facility completely, it shook violently and shorted out the national electricity grid.
This giant dam in the jungle, financed and built by China, was supposed to christen Ecuador’s vast ambitions, solve its energy needs and help lift the small South American country out of poverty.
Instead, it has become part of a national scandal engulfing the country in corruption, perilous amounts of debt — and a future tethered to China.
Nearly every top Ecuadorean official involved in the dam’s construction is either imprisoned or sentenced on bribery charges. That includes a former vice president, a former electricity minister and even the former anti-corruption official monitoring the project, who was caught on tape talking about Chinese bribes.
(In light of this kind of information- should we trust the likes of Our idiot Boy Justin to arrange “deals” with China? With Our idiot Boy telling us “he likes the way the Chinese get things done” -which is apparently a reference to being able to re-write the history books to EDIT OUT Red Party screwups! And Lord knows |Our idiot Boy has a lot of stupidity to hide as well- especially since the entire Trudeau clan has told us of their fondness for bloody handed Cuban Soviet dictator Castro?)
(And Pierre Trudeau casually praised what he called “the genius of Chinese Chairman Mao for rushing 30 million Chinese to the gallows” during the Great Leap Forward! Or we could mention the aspiring film maker Sacha Trudeau who has collaborated with Iranian Ayatollahs in making anti Yankee and anti Israel propaganda films!)
Then there is the price tag: around $19 billion in Chinese loans, not only for this dam, known as Coca Codo Sinclair, but also for bridges, highways, irrigation, schools, health clinics and a half dozen other dams the government is scrambling to pay for.
It doesn’t matter whether Ecuador can afford them.
China gets paid either way.
To settle the bill, China gets to keep 80 percent of Ecuador’s most valuable export — oil — because many of the contracts are repaid in petroleum, not dollars. In fact, China gets the oil at a discount, then sells it for an additional profit.
(This of course is a big reason why Stephen Harper prohibited China from buying a big stake in Cdn oil patch! WE CAN of course SAFELY sell oil to China on OUR terms- but we MUST RETAIN overall control of OUR RESOURCE!!!!!! )
Pumping enough oil to repay China has become such an imperative for Ecuador that it is drilling deeper in the Amazon, threatening more deforestation.
(IN other words between the fiscal mess Ecuador has sunk itself in and coupled with the Cdn LIE-beral refusal to put our oil on international markets- we are actually aiding Amazon forest destruction! China wants to burn less coal and more natural gas because it is cleaner- and yet Our idiot Boy would rather leave Cdn natural gas and oil in the ground and force China to burn Australian coal!)
(LIE-berals forced Cdns to stop using coal at considerable cost- and then IGNORED options for PROFITING from helping China move away from coal use- how ABSURD IS THAT? And there is lots of natural gas on world markets but MUCH OF it is produced by “fracking” - unlike Cdn natural gas which does not need such a destructive option to be collected! And of course many people WOULD RATHER buy oil and natural gas from Cdns instead of dealing with vicious Russians!)
(Can LIE-beral policy get ANY MORE SCREWED UP? Our vaunted LIE-berals are screwing up national security, aiding our Chinese, Russian, North Korean and Iranian enemies and scorning options for saving parts of the world environment!!!)
But that is not enough. Hobbled by the debts, President Lenín Moreno has slashed social spending, gasoline subsidies, several government agencies and more than 1,000 public jobs. Most economists expect the country to slide into recession, stirring outrage.
(As the 19th century Soviet revolutionary Bakunin stated: “it is not necessary for the majority of the population to support the revolution; all that is needed is for a majority of the population to distrust its social institutions and become open to change”! In other words- bad govt - of the LIE-beral sort creates situations that Red Guards can take advantage of!)
(In Russia- the first free election after the Czar was deposed put a weak coalition of Moderates into power- with the leader being a guy named Kerensky- who wanted Russia to become a Parliamentary Monoarchy like Britain- but heavily armed Red Guards acting on plans drawn up by Lenin dissolved that legitimate govt at gun point!!)
(This sort of national distrust of institutions that Soviet cadres- whether they be Chinese, Russian or even Cdns like Our idiot Boy- can then exploit for Soviet advantage, is being used in Ecuador! And of course Our idiot Boy and his loser |LIE-berals are working hard to create the same sort of national distrust in Canada- with their massive debts, shameless vote buying, constant accusations of “systemic racism” and their deliberate neglect of criminal issues such as money laundering and organized crime activity!)
(Pierre Trudeau infamously told a group of reporters- back before he had any political ambitions- that if he ever became prime minister- “he would take Canada from the past into the future via the route of radical socialism”! )
(Of course once Pierre got interested in politics - he then had to DENY ever saying such a thing! And had to deny ever leading Cdn “peace delegations” to Moscow for Soviet propaganda shows! Former Toronto Telegram and later Toronto Sun reporter - the Czech born Lubor Zink- routinely trotted out these ugly Trudeau ideals - with Trudeau threatening to sue for slander! With Zink DARING TRUDEAU to do just that- Zink sneering “you bring your witnesses and I will bring mine! Pierre settled for banning Zink from all federal media events and never speaking either Zink`s name nor that of Toronto Sun!!)
(Pierre Trudeau has told us in writing that “the war against Nazi Germany is British Imperialism”! Pierre also told us he wanted to destroy what he called “Cdn Imperialism”! It seems obvious to me that what Pierre called Cdn Imperialism is now being called “white privilege” by his idiot son Justin!)
“China took advantage of Ecuador,” said Ecuador’s energy minister, Carlos Pérez. “The strategy of China is clear. They take economic control of countries.”
(Yes- China is on the hunt for power and prestige and mostly- for RAW RESOURCES FOR ITS PEOPLE! WE should NOT let Our idiot Boy lead us into a friendship with murderous Chinese Soviets!!!!!!)
The story of how the dam got built brings together two natural allies, both eager to change the course of the hemisphere and displace the United States as the unrivaled power in the region.
China made its plans clear a decade ago, when it swept into Latin America during the global financial crisis, tossing governments an economic lifeline and promising to “treat each other as equals,” a clear swipe at American dominance.
(It is understandable that South Americans might not love Yankees! But to exchange rather soft Yankee Imperialism for Soviet domination sounds like a BAD DEAL!! And there is NO REASON for Cdns to want such a deal- unless you are an aspiring Trudeau LIE-beral style DICTATOR!)
It worked. China, now South America’s top trading partner, has seeded the region with infrastructure and a staggering trail of loans. It has reaped political benefits, too, getting Latin American nations to sever diplomatic relations with Taiwan.
(This too is standard Soviet preparation for revolution- sowing discord and distrust between people who SHOULD BE ALLIES! ALL of South America has struggled with Soviet style revolutionaries! Chile and Brazil can point to the defeat of Soviet rebels as the starting point of their economic resurgence and the establishment of relatively honest democracy!)
Still, as the giant dam in Ecuador shows, the two sides were hardly equal partners.
Both nations were willing to overlook deep design flaws, questionable economics and independent warnings that the technical studies for the dam were decades out of date.
(China is seeking to create its own version of the old Japanese “Greater Co-prosperity Sphere” that had its start in “Manchuquo” the Japapanese name for occupied Manchuria”! Such “cooperation” is deliberately mis-named COLONIALISM that will ONLY benefit the master country- China!)
But using an approach it has applied to billions of dollars in loans across the developing world, China never faced much of a financial risk.
The gamble was all Ecuador’s, and now the country is looking for new loans to plug its many gaps, including more money from China.
(In other words- Chinese “foreign aid” is really a sort of pyramid scheme run by govt sponsored loan sharks!)
Just this month, Mr. Moreno flew to China to renegotiate some of his country’s debt — and borrow another $900 million.
“The Chinese put the hook in,” said Steve Hanke, a Johns Hopkins economist. “At the end of the day, what do these countries have? A pig in a poke.”
‘We knew this relationship wouldn’t be an easy one’
When Fernando Santos, an energy minister in the 1980s, found out that the Coca Codo Sinclair dam was actually being built, he could hardly believe it.
During his time in government, officials had rejected a much smaller version of the project. The whole idea was doomed, he said, because of the volcano nearby. A major earthquake had decimated oil infrastructure in the area in 1987.
(So a former govt official with HARD EVIDENCE was IGNORED! And the larger version of the dam was built anyway? How BIG A CHEAT do you have to be to go ahead with a dam in an earthquake and volcano zone? And WHY should we ever trust China for ANYTHING at this point?????????)
“The volcano has been erupting since the time the Spanish came to Ecuador in the 16th century,” Mr. Santos said, adding that investing so much money “in such a risky location was nonsense.”
There were other alarm bells.
An independent review of the project in 2010, prepared by a Mexican government agency and obtained by The New York Times, warned that the amount of water in the region to power the dam had not been studied for nearly 30 years.
Since that time, Ecuador had suffered punishing droughts, and there were concerns that its glaciers were melting because of climate change.
Despite the advice, Luciano Cepeda, the dam’s former general manager, said top Ecuadorean officials pressed ahead anyway because “a new study would have taken several years” and they didn’t want to slow down.
(One really has to wonder who put a gun to the heads of these officials and persuaded them to proceed with this CRAP PLAN????)
Even a Chinese diplomat in Ecuador, who was not authorized to speak publicly, said he had his doubts about the project.
“We didn’t give sufficient attention to the environmental reporting,” the diplomat said.
(In other words- the Chinese official- who normally would not tie his shoes in the morning unless Beijing authorized it- is suddenly brave enough to “speak off the cuff” and telling us that lame old socialist excuse- that sometimes “accidents happen”!!! The great cause of Socialism NEVER makes mistakes- it is always the fault of some individual who gets made the SCAPE GOAT for DELIBERATE Socialist Policy! In this case all the Goats are Ecuadorian!)
China’s record offered both encouragement and cause for concern. Its massive Three Gorges Dam, which cuts the Yangtze River and rises 600 feet high, was the largest hydroelectric project in the world, designed to produce 20 times the power of the Hoover Dam.
But inadequate safety measures led to the deaths of 100 workers, the dam displaced more than one million people, and the environmental damage was considerable, including the destruction of forests.
(China has a BILLION PEOPLE to feed and house and ride herd over- and a world to conquer! The loss of some trees and the inconvenience of a few people is very small potatoes in the Chinese world view!!)
Warnings aside, there were bigger geopolitical forces at play. Ecuador’s president at the time, Rafael Correa, was a left-wing populist who had vowed to modernize his country and free it from the orbit of the United States.
(Oh! Correa is a Cdn style LIE-beral just like Our idiot Boy Justin!!!!!)
Elected in 2006 under a surge that brought leftists to power across Latin America, Mr. Correa took aim at the United States with fiery, anti-imperialist speeches. In 2008, he refused to renew a lease that allowed American anti-narcotics surveillance flights to operate from an Ecuadorean air force base.
Soon, Western financial institutions fell in Mr. Correa’s cross hairs. He denounced the International Monetary Fund, saying it put restrictions on his spending. Then in 2008, he defaulted on $3.2 billion of his country’s foreign debt and invited China to fill in the breach.
(Oh NICE! Correa spends wildly and then blames the banks for not lending him what he needs!! Is this not a remarkable REPLAY of Ontari-owe NDP premier Bob RAE- who DOUBLED our provincial debt in 4 short years! Rae made such a mess that after the banks cut off his credit- he was forced to send home Ontari-owe civil servants for unpaid days off- the infamous Rae Days!)
(The Bob Rae/NDP economic plan for Ontari-owe was to borrow enough money to “kick start” the economy! The NDP chose to try to make us rich with BORROWED MONEY! And now we have Our idiot Boy and his LIE-beral losers engaged in a BIGGER and more costly and more destructive version of the old Rae plan!)
“Correa wanted to get away from Western banks and institutions,” said Diego Borja, Mr. Correa’s former minister of economic coordination. “We knew this relationship wouldn’t be an easy one with China.”
(Limiting use of credit cards is hard for either people or countries- but selling yourself to a loan shark like China is CLEARLY NOT RECOMMENDED!!!!!!!!)
Mr. Borja and other officials were staggered by the terms on Chinese loans. Most came from a large state-owned lender, the Chinese Export-Import Bank, which had high interest rates and required Ecuador to use Chinese companies in construction, effectively eliminating competition.
(Oh yes- this is proof that China has studied Mafia operations! One only has to read how Mafia gets its claws into a business- and then takes over its line of credit and orders all sorts of stuff- food, tvs, liquor and etc- that comes legitimately in the front door of the business and then disappears out the back door in the hands of Mob THIEVES- leaving the business on the hook for the bills!)
China seemed particularly interested in oil from Ecuador, one of OPEC’s smallest members. In one deal in 2009, China lent Ecuador $1 billion, to be repaid in oil shipments to the state oil company PetroChina.
“But we didn’t have other options,” Mr. Borja recalled. “The doors were closed to the West.”
(Yes- as Cdn LIE-berals can attest- living within your mean is A BORE!!!!!!!!!!)
Mr. Correa suddenly had access to money, but a new crisis emerged: The country was running out of power. A drought was depleting the nation’s reservoirs, paralyzing its dams. Rather than look for another source, Mr. Correa doubled down on hydro power.
Officials say it was Mr. Correa’s electricity minister, Aleksey Mosquera, who first mentioned Coca Codo Sinclair: a megaproject that was supposed to provide a third of the country’s electricity and represent the single largest investment in Ecuador’s history.
It ended up being built right under the Reventador volcano — and nearly twice the size of the proposed dam that had been rejected decades before.
When it finally opened in late 2016, China’s president, Xi Jinping, flew to Ecuador to celebrate.
Yet only two days before the visit, the dam was in chaos.
Engineers had tried to generate the project’s full 1500 megawatts, but neither the facility nor Ecuador’s electrical grid could handle it. The equipment shuddered dangerously, and blackouts spread across the country, officials said.
Ecuadoreans were never told about the failure, and a full power test has not been attempted since.
Today, the dam typically runs at half capacity. Experts say that given its design — and the cycle of wet and dry seasons in Ecuador — it would be able to generate the full amount of electricity for only a few hours a day, six months out of the year.
That is, if everything worked perfectly.
Ecuador still has to pay back the debt, though. The $1.7 billion loan from China’s Export-Import Bank is lucrative for China: 7 percent interest over 15 years. In interest alone, Ecuador owes $125 million a year.
Now, many Ecuadoreans say the burden falls on them.
Under the constant hum of the dam’s transmission towers, residents in the town of Cuyuja worry that the towers will topple in the constant mudslides. Geologists say the tower foundations weren’t built into bedrock by the Chinese.
Another complaint is the bill. Maria Esther Tello paid $60 last month to keep the lights on in her home, a shock given the government’s promises electricity prices would go down.
“Where have my old mother’s taxes gone?” asked her daughter, Isbela Nole, as she helped harvest and peel fava beans to pay the government.
(Uh huh- but we can bet that govt civil service union Hogs still get MORE GRAVY than other people! In the usual LIE-beral socialist vote buying style!)