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Chinese banks finance $2.6 billion Baha Mar in the Bahamas

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The Bahamas has been hit hard by the financial crisis in developed countries and the resultant dwindling tourism. Back in July of 2010, China Daily reported two agencies approved for financing the Baha Mar resort in the Bahamas, enabling much needed job creation. The resort is the largest of its kind in the Caribbean. In this report, construction officially started few days ago. The resort is slated to open in late 2014. Chinese Ambassador Hu Dingxian said to Bahamians during the ground break ceremony, “China is committed to an economic relationship of cooperation and mutual benefit.”

It is worthwhile to underscore what Hu said. China is very much about economic win-win around the world. Unlike what we see leaked in the Wikileaks, the U.S. spends tremendous energy on politics around the globe. China is flushed with capital, and her foreign diplomats are very much preoccupied with economics. This is an example the U.S. government can learn from. Bahamians get to be employed too.

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