China’s obsession with financial secrecy is causing problems overseas … even when it’s giving $55M away
China is once again causing controversy in Africa for doing something that, in theory, should win praise giving away money.
This week, it emerged Beijing had secretly gifted Sierra Leone $55 million to fund a controversial “fishing harbor” on an undeveloped stretch of coastline, which supports the local fishing industry, borders protected rainforest, and is home to endangered turtles and pangolins.
The deal only came to light after residents were told by officials in the Whale Bay area, where the harbor is planned, that there was a hold on any land exchanges because of a Chinese deal, says Jane Aspden Gbandewa, who runs an an eco-tourism business in the area.
美津濃停用新疆棉 華歌爾、無印良品續用
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China s obsession with financial secrecy is causing problems overseas even when it s giving $55M away
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China s obsession with financial secrecy is causing problems in Africa even when it s giving $55M away
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By Reuters Staff
2 Min Read
TOKYO, May 20 (Reuters) - Japanese shares erased early losses on Thursday, led by chipmakers tracking overnight gains by U.S. peers, but investors refrained from making active bets awaiting fresh cues after most companies announced their earnings.
The Nikkei share average edged up 0.07% to 28,063.39 by 0201 GMT, after losing as much as 0.8% earlier in the session, while the broader Topix was down 0.18% to 1,898.64.
“The Japanese market does not have its own reasons for a movement right now after most of corporate outlook is out,” said Takatoshi Itoshima, strategist at Pictet Asset Management.
“While there are uncertainties surrounding Japan that weigh on sentiment, such as slow rollouts of vaccines and whether and how the Olympics will be held.”