Posted on 09/27/2010 12:41:12 PM PDT by goldendays
China rises and rises, yet still gets foreign aid
BEIJING — China spent tens of billions of dollars on a dazzling 2008 Olympics. It has sent astronauts into space. It recently became the world's second largest economy. Yet it gets more than $2.5 billion a year in foreign government aid — and taxpayers and lawmakers in donor countries are increasingly asking why.
With the global economic slowdown crimping government budgets, many countries are finding such generosity politically and economically untenable. China says it's still a developing country in need of aid, while some critics argue that the money should go to poorer countries in Africa and elsewhere.
Germany and Britain have moved in recent months to reduce or phase out aid. Japan, long China's biggest donor, halted new low-interest loans in 2008. "People in the U.K. or people in the West see the kind of flawless expenditure on the Olympics and the (Shanghai) Expo and it's really difficult to get them to think the U.K. should still be giving aid to China," said Adrian Davis, head of the British government aid agency in Beijing, which plans to wrap up its projects in China by March. "I don't think you will have conventional aid to China from anybody, really, after about the next three to five years," he said. Aid to China from individual donor countries averaged $2.6 billion a year in 2007-2008, according to the latest figures available from the Organization for Economic Cooperation and Development.
Ethiopia, where average incomes are 10 times smaller, got $1.6 billion, although measured against a population of 1.3 billion, China's share of foreign aid is still smaller than most. Iraq got $9.462 billion and Afghanistan $3.475 billion.
(Excerpt) Read more at google.com ...
(china own 51% of all company doing business in china territory, )
foreigner can come to America and buy up a hold company,but yet,you go to china to do business or to buy a company china own 51% all of the time WHY?
Its not foreign aid as you think of it, its basically payments to politicians there for corruption. Of course its not needed, but that is why “foreign aid” still exists.
Don’t forget the stim-stim...It had loads of goodies in it for them too.
Isn't it ironic that China and Africa are "still developing countries"? WTH is taking them so long to "develop"?? How long have they been in existence, and how long has the U.S. been in existence? And, WE have to bail THEM out??? Unreal!!!
That regulation changed many years ago. Foreigners can 100% own a company, you do not need any Chinese owners involved.
“How long have they been in existence, and how long has the U.S. been in existence?”
The Chinese will proudly tell you that you are uncultured because your country is just a babe then hold their hand out and demand they be treated as a developing nation. They are having it both ways.
Because it’s THEIR country!
No; what's ironic is that Africa is a CONTINENT!
They must be Democrats!
Clearly you haven't majored in history. Your statements are true to the exceptions of the errors pointed out in earlier post. I might also add that China, for all its achieved in the past, has communist mao, the fall of the ming and rise of the qing dynasty, world war 2, the cultural revolution, the great leap forward, the british colonist, the chinese revolution that ended imperialism, a bunch of other revolution, rebellions, wars, and other bloodsheding events in addition to the extensive wars waged against the northern barbarians under chinese imperialism and so on, and all that in the last few hundred years to blame for its present state.
“They must be Democrats!”
I didn’t see that one coming. Thanks for the enlightenment. (:
No, I didn't "major" in history; however, my question was more a rhetorical question - just to get people thinking. But, thanks for the "history" lesson - it explains the problem with these "countries". THEIR GOVERNMENTS!!! Now, IF ONLY they would follow OUR (U.S.) example - they'd be so much better off, yes?
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