Date
20 November 2017

Ecuador, China seek to strengthen ties, WSJ says

China has pledged to continue to support Ecuador in areas that it needs, the Wall Street Journal reported Monday, citing a news release from the office of Ecuadorian Vice President Jorge Glas. Glas met Monday with his Chinese counterpart, Li Yuanchao, in Beijing, a visit aimed at strengthening Ecuador’s ties with the Asian nation, its largest lender, the report said. China “has the technological resources required by Ecuador to achieve development, while Ecuador has natural resources important to China”, Glas was quoted as saying. Since Ecuador defaulted on about US$3.2 billion in global bonds in 2008, China has been extending loans to the Andean country in exchange for crude-oil supplies, the report said.

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