Ecuador auctions off Amazon to Chinese oil firms | World news | The Guardian - 0 views
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Attending the roadshow were black-suited representatives from oil companies including China Petrochemical and China National Offshore Oil. "Ecuador is willing to establish a relationship of mutual benefit – a win-win relationship," said Ecuador's ambassador to China in opening remarks.
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Critics say national debt may be a large part of the Ecuadorean government's calculations. Ecuador owed China more than £4.6bn ($7bn) as of last summer, more than a tenth of its GDP. China began loaning billions of dollars to Ecuador in 2009 in exchange for oil shipments. More recently China helped fund two of its biggest hydroelectric infrastructure projects. Ecuador may soon build a $12.5bn oil refinery with Chinese financing