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July 07, 2015

Comments

Bill

What has happened was preordained more than five years ago when the developer went into business with the government of a rising superpower. The completely one sided commercial relationship left Izmirlian only nominally in the driving seat while the project was built.
The Chinese state is not driven by the profitability of a single project, or by philanthropy (Bahamians are much wealthier than the average Chinese citizen), instead geopolitical goals motivate their game plan. One of the sharpest thorns in the side of the Chinese state is the influence of the U.S. In the waters and countries that surround China. The need to counterbalance that advantage in America's own backyard is a long term strategic imperative in their eyes.
The only plausible solution for the Bahamas is for the U.S. to provide a buy out of Izmirlian by an entity that has the financial capacity to repay the Chinese loan. A venture that may not make commercial sense in the dimming light of the project's prospects, but probably the only way of getting the Bahamas out of a bind that was willingly walked into all those years ago.

Ken

Sarkis seems to think he is a gamesman. What's worse he thinks he can brow beat and intimidate govts. He forgets what sovereign power means.

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