The potential deal, reportedly worth up to $8 billion, is emblematic of China’s strengthening of economic, diplomatic and cultural ties with Argentina. China and Argentina are expected to seal a currency swap deal this weekend that doubles the original amount of the credit line to $18.7 billion. The deal will make China the biggest non-institutional lender to Argentina. Atucha III would be one of the biggest projects financed by China in Argentina, according to the Reuters review of Chinese state funding data. In the meantime, what they create are new markets for Chinese companies abroad, which back home means Chinese companies will be working, making the products, making the locomotives, the cars, the rails, everything,” Uriburu said.

Source: Egypt Independent November 28, 2018 09:22 UTC