[EQAndyBuzz]

“Russia and China sign 100-billion-dollar deal of the century”

Paid for with American Tax Dollars

[CutePuppy]

Paid for with American Tax Dollars

China lends Shanghai group $10bn

China will extend a $10bn (£6bn) loan to Russia and four Central Asian states to help them in the financial crisis, Chinese President Hu Jintao has said.

Speaking at a summit of the Shanghai Cooperation Organisation (SCO) in the Russian city of Yekaterinburg, he said China would help member states.

The group includes Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan.

Yekaterinburg is also hosting a meeting of the world's four emerging economies - Brazil, Russia, India and China.

The so-called Bric countries are meeting for the first time to discuss ways to improve the global economy.

SCO COUNTRIES

• China, Russia, Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan
• Set up in 2001 to curb extremism in the region
• India, Pakistan, Iran and Mongolia joined later as observer members
• Trade between the six full members stood at $68bn in 2007

China is now the world's third-biggest economy. President Hu said it would also send delegations to SCO nations to assist with trade and investment.
.....

[M. Espinola]

Obama Inc would call it a ‘bailout’ for ‘our’ (their) best overseas friends.