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Ecuador To Sell A Third Of Its Amazon Rainforest To Chinese Oil Companies
businessinsider.com.au
Ecuador is planning to auction off three million of the country’s 8.1 million hectares of pristine Amazonian rainforest to Chinese oil companies, Jonathan Kaiman of The Guardian reports.
The report comes as oil pollution forced neighbouring Peru to declare an environmental state of emergency in its northern Amazon rainforest.
Ecuador owed China more than $7 billion — more than a tenth of its GDP — as of last summer.
In 2009 China began loaning Ecuador billions of dollars in exchange for oil shipments.
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