After the Nov. 15 Group of 20 (G20 [2]) summit in Washington, Chinese president Hu Jintao flew to Costa Rica for the first visit by a Chinese president to Central America. He and Costa Rican president Oscar Arias were to sign 11 accords, including the creation of a joint enterprise of Refineria Costarricense de Petroleo and China National Petroleum Corporation to modernize Costa Rica's plant; a line of credit from a Chinese bank to the state-owned Banco de Costa Rica; funding for Chinese language instruction in the Universidad de Costa Rica; and $73 million for the construction of a new sports stadium in San José. China has been moving aggressively into economic activities in Latin America and the Caribbean, and the refinery accord opens the possibility that China may invest up to $1.2 billion in a new refinery. (Univision, Nov. 16 from AFP)
From Weekly News Update on the Americas [3], Nov. 16
See our last posts on Costa Rica [4] and China [5].
