Ecuador Govt Auctions Off Amazonian Rainforest to China Oil Firms

The Guardian reported that a group of Ecuadorian politicians have auctioned off over 3 million hectares of Amazonian rainforest to representatives of Chinese oil companies in Beijing.

As quoted in the market news:

Attending the roadshow were black-suited representatives from oil companies including China Petrochemical and China National Offshore Oil. “Ecuador is willing to establish a relationship of mutual benefit – a win-win relationship,” said Ecuador’s ambassador to China in opening remarks.

Click here to read the full The Guardian report.