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Ecuador’s unhealthy dependence on China is about to get $1.5 billion worse – Quartz

These kinds of deals threaten president Rafael Correa’s reputation with Ecuadorean citizens—he has pledged to cut out private oil traders and middlemen from the country’s oil sector, but allowed a Chinese state firm and a private Hong Kong partner to control and sell as much two thirds of its oil. Activists are criticizing deals to trade drilling access in the Amazon for loans. Read more >>

These kinds of deals threaten president Rafael Correa’s reputation with Ecuadorean citizens—he has pledged to cut out private oil traders and middlemen from the country’s oil sector, but allowed a Chinese state firm and a private Hong Kong partner to control and sell as much two thirds of its oil. Activists are criticizing deals to trade drilling access in the Amazon for loans.

Read more >>

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