1. The developer cannot find a bank to financing this ambitious project. China Ex-Im bank coming in with over 2 billion dollars and save this project.
2. This developer cannot execute this project in an efficient way, so he over budget and file bankruptcy.
3. The Ex-Im Bank has already tired of this situation because this developer cannot do anything rather than use this project as to demand more money. He knows that if he borrow 1 billion dollars, bank will worry about this loan rather than himself. To better describe this developer, it is Bahamas' Greece.
4. The general contractor cannot find enough hard working and skilled workers in Bahamas. They were forced to bring skilled workers from China.
5. Chinese workers bring skills and trades to Bahamas. They are improving economy here.
6. The beach in Bahamas is not worth billions. If you believe that China is buying Bahamas' beach, you are in a delusional stage.
From those crystal clear facts, I have to say that China is helping Bahamas developing economy and bring new jobs. The current situation is simply developer's own fault. I believe that Chinese lender should bring good faith to solve this problem. However, I still believe that an experienced Chinese real estate developer should take over this project.
joshc says...
It looks like you miss several important points:
1. The developer cannot find a bank to financing this ambitious project. China Ex-Im bank coming in with over 2 billion dollars and save this project.
2. This developer cannot execute this project in an efficient way, so he over budget and file bankruptcy.
3. The Ex-Im Bank has already tired of this situation because this developer cannot do anything rather than use this project as to demand more money. He knows that if he borrow 1 billion dollars, bank will worry about this loan rather than himself. To better describe this developer, it is Bahamas' Greece.
4. The general contractor cannot find enough hard working and skilled workers in Bahamas. They were forced to bring skilled workers from China.
5. Chinese workers bring skills and trades to Bahamas. They are improving economy here.
6. The beach in Bahamas is not worth billions. If you believe that China is buying Bahamas' beach, you are in a delusional stage.
From those crystal clear facts, I have to say that China is helping Bahamas developing economy and bring new jobs. The current situation is simply developer's own fault. I believe that Chinese lender should bring good faith to solve this problem. However, I still believe that an experienced Chinese real estate developer should take over this project.
On Government delegation heads to China for Baha Mar talks
Posted 13 July 2015, 6:16 a.m. Suggest removal