June 27, 2017
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Lingering shadows
China’s quest for expanding into western region and Central Asia Lenin’s theory that imperialism is driven by capitalist surpluses seems to hold true for China’s adventure into the Western region and Central Asian nations where China plans Belt and Road Initiative and dozens of bilateral economic projects in coming years. This is primarily to exploit Central Asia’s energy resources - oil, natural gas, uranium - are the cake for an economy which is slowing down at a faster pace. China needs these resources to fuel its economic growth and Beijing is seeking them everywhere in the world. But why send oil tankers half way around the world when numerous pipelines, railways, and roads are being constructed in Central Asia, largely with Chinese money. All that can bring oil, gas, uranium, and various minerals from Central Asia to China. And the Chinese loans that the Central Asian governments are accepting to develop their oil and gas fields and build the infrastructure needed to export these resources to China are in fact pre-payment for goods to be received later. For example, China has loaned Turkmenistan more than $10 billion to develop the massive Galkynysh gas fields and build the pipelines from the field. Some gas from Galkynysh will eventually go to China and the first $10-billion worth would not earn Turkmenistan any money as Ashgabat will be paying back the loan. Energy resource Some might say China is sucking Centra
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