{"id":4758,"date":"2015-01-21T21:02:42","date_gmt":"2015-01-22T02:02:42","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4758"},"modified":"2015-01-21T21:02:42","modified_gmt":"2015-01-22T02:02:42","slug":"ukraine-stiffs-china-for-billions-it-owes","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4758","title":{"rendered":"Ukraine Stiffs China for Billions It Owes"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/www.washingtonsblog.com\/2015\/01\/ukraine-stiffs-china-billions-owes.html\" target=\"_blank\">Ukraine Stiffs China for Billions It Owes<\/a><\/h3>\n<p><strong>China paid Ukraine $3B two years ago for grain still not delivered, now demands refund. Another $3.6B that\u2019s owed to China, will probably also default.<\/strong><\/p>\n<p>Eric Zuesse<\/p>\n<p>Russia\u2019s RIA Novosti News Agency\u00a0<a title=\"reported\" href=\"http:\/\/rian.com.ua\/analytics\/20150117\/362175891.html\" target=\"_blank\">reported<\/a>, on January 17th, that China is demanding refund of $1.5 billion in cash and of an additional $1.5 billion in Chinese goods that were paid in advance by China (in 2013), for a 2012 Chinese order of grain from Ukraine, which goods still have not been supplied to China.<\/p>\n<p>According to RIAN, \u201cState Food and Grain Corporation of Ukraine (STATE FOOD) supplied grain in 2013, elsewhere, but not to China. The new Kiev authorities had an opportunity to fix the short-sighted actions \u2018of the [previous] Yanukovych regime,\u2019 and to present a positive economic image to the Chinese.\u201d But it didn\u2019t happen.<\/p>\n<p>Furthermore: \u201cPrior to the Presidency of Yanukovych [which started in 2010], China\u2019s leadership had simply refused to do business with the pre-Yanukovych Administration\u2019s Yulia Tymoshenko, and they planned to wait until Yanukovych became President. He then came, and since has been ousted, and yet still only $153 million of grain has been delivered.\u201d (None of the $1.5B cash that China advanced to Ukraine to pay for growing and shipping grain has been returned to China, but\u00a0<em>only<\/em>\u00a0the $153M that had essentially been swapped: Chinese goods for Ukrainian grain.) This $153 million was approximately as much as the interest that would be due on China\u2019s prepayment, and so Ukraine still owes China the full $3 billion ($1.5B in cash, + $1.5B that China supplied in goods).<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ukraine Stiffs China for Billions It Owes China paid Ukraine $3B two years ago for grain still not delivered, now demands refund. Another $3.6B that\u2019s owed to China, will probably also default. Eric Zuesse Russia\u2019s RIA Novosti News Agency\u00a0reported, on January 17th, that China is demanding refund of $1.5 billion in cash and of an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[130,2835,821],"class_list":["post-4758","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-china","tag-grain","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4758"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4758\/revisions"}],"predecessor-version":[{"id":4759,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4758\/revisions\/4759"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}