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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Chinese agreement ... vague terms and much controversy over its feasibility and an economist exp

    Rocky
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    The Chinese agreement ... vague terms and much controversy over its feasibility and an economist exp Empty The Chinese agreement ... vague terms and much controversy over its feasibility and an economist exp

    Post by Rocky Wed 15 Jan 2020, 6:33 am


    [size=41]The Chinese agreement ... vague terms and much controversy over its feasibility and an economist explaining part of the truth

    2020-01-15
    [/size]
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    Yassin Iraq: Baghdad

    The economist, Nabil Al-Marsoumi, outlined several notes on the book issued by the Central Bank of Iraq on 12/30/2019, regarding the Iraqi-Chinese agreement.

    Text of notes:

    1. The term singular has been mentioned three times in the book and the agreement is a contract concluded between two parties to cooperate in specific fields and carries a legal character and is binding on both parties throughout the agreed period. Accordingly, this agreement must obtain the approval of the Iraqi parliament and be published in the Iraqi Al-Waqa'iq newspaper in order for it to be valid.
    2. It is too early to say that the agreement has entered into force, as the amounts of the oil shipments exported to the Chinese STC Bank have not yet been transferred, and no international consulting firm has been contracted to monitor the accounts, as indicated in the Central Bank of Iraq’s letter.
    3. The book refers to a deposit of 418 million dollars on Sumo sales of crude oil for October and November (which represents sales of 100,000 barrels to China). This means that the agreement with China was not a construction trade for oil but rather reconstruction or investment for money and this money is deducted from Total oil revenues are part of Iraq’s share in OPEC, not outside it, which I referred to in previous publications
    4. The deposit of this amount in the account of Iraq with the American Federal Bank, as is the case with all Iraqi oil revenues, means that the American bank can prevent the transfer of this amount to Chinese banks for the purpose of implementing the agreement, or in other words that the implementation of the agreement is related to the approval of the United States and if the United States feels That this agreement threatens the American economic interests, it is possible to abort it with ease by preventing the transfer of the amounts of oil shipments from the US Federal Bank to the Chinese (Bank) bank. Therefore, the claim that this agreement will deal a strong blow to the United States does not become a mere Facebook foolishness from bloggers who are ignorant of the ABC economy.
    5. Deducting part of the oil revenues and then transferring them to the account of Iraq in the Chinese bank (Stek Bank) and then converting them to investment spending to implement specific projects in Iraq requires creating new allocations or transferring the allocations between budget items and this is one of the tasks of the House of Representatives and therefore requires implementation This agreement is legislation for the 2020 budget law, and without it, the agreement can only be implemented if the federal budget law is broken in Iraq.


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