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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (23973)2/20/2005 1:18:31 AM
From: CalculatedRisk  Read Replies (1) of 116555
 
U.S. Watches As China Woos Caribbean

By MICHAEL NORTON
Associated Press Writer

SAN JUAN, Puerto Rico (AP) -- China is waging an aggressive campaign of seduction in the Caribbean, wooing countries away from relationships with rival Taiwan, opening markets for its expanding economy, promising to send tourists, and shipping police to Haiti in the first communist deployment in the Western Hemisphere.

And the United States, China's Cold War enemy, is benignly watching the Asian economic superpower move into its backyard.

For decades China and Taiwan used dollar diplomacy to win over small Caribbean nations where small projects building roads, bridges, wells and fisheries go a long way.

But Beijing's growing economic clout is tipping the scales in the region. Caribbean trade with China reached $2 billion last year, a 42.5 percent increase from 2003, the Chinese news agency Xinhua reported.

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