Published On:Wednesday, September 23, 2009

EDITOR, The Tribune.

There has been much fanfare of late regarding the level of assistance that the People's Republic of China is prepared to offer to the Bahamas.

From the sports stadium, to the road project, to Baha Mar and finally in today's Tribune large scale farming in Abaco.

We recently witnessed the historic visit of His Excellency Wu Bangguo, Chairman of the Standing Committee of the National People's Congress of the People's Republic of China. During this visit three agreements were signed that covered

i) in addition to other issues, the protection of investments by Bahamian and Chinese investors that are made in each other's countries;

ii) an agreement that covers a loan from the Chinese Exim Bank for the Airport Highway project and

iii) an agreement that covers the construction of the national sports stadium, which is a grant from the People's Republic of China.

There were also two agreements signed with Baha Mar, regarding the Cable Beach project.

The above is all well and good....perhaps!? No doubt there is much benefit to be achieved by some Bahamians, with regard to these developments. But all the media coverage and Government press releases highlight the benefits for the Bahamas.

I always stand to be corrected, as I am only human and will make mistakes, but so far I can't seem to find any coverage on the benefits to the People's Republic of China for such generosity bestowed on the Bahamas and the Bahamian people. Certainly China benefits from exporting goods to the Bahamas, but this does not seem to justify what we have learnt over the past couple of weeks and months. Our imports from China are only "peanuts" to that of our neighbour to the west.

The Highway Project may be a loan, but we are advised that the Stadium is a grant. So what is in it for the People's Republic of China?

Outside of monetary gain, and I'm sure long line fishing, are the Chinese interested in our relationship and proximity to the United States of America or illegal immigration (ie importation of cheap labour from China). The Chinese are business people and as said by Milton Friedman: "There's no such thing as a free lunch."

So, what have we committed to the People's Republic of China?

JEROME R PINDER

Nassau,

September 17, 2009.