Friday, December 31, 2010
The Chinese Way of Hegemony-V
Former diplomat M. K. Bhadrakumar published an article in the Asia Times online (1 August 2009) titled “China dips its toe in the Black Sea.” Beijing and Moldova signed an agreement to loan $1 billion (with 3% interest rate over 15 years and a five-year period on interest payments). Moldova is small country surrounding by Ukraine and Romania, locating near the Black Sea. GDP in Moldova has only $ 8 billion and annual budget about 1.5 billion. Certainly, the Chinese loan will be one of big deal for the Moldova’s government. This symbolizes that Eastern Yellow-Dragon first leap across Central Asian to western edges of Eurasia since Genghis Khan’s era during the Mongolian dynasty (1279-1368). What is the next strategy from Beijing’s Eurasian foreign policy?