China: Buying Friends in Turkmenistan

China signed a $4 billion credit agreement with Turkmenistan on June 24 following meetings between Chinese Vice Premier Li Keqiang and Turkmen President Gurbanguly Berdimukhammedov in Ashgabat. The deal follows an early June promise by Beijing to lend Turkmenistan $3 billion to develop the South Yolotan natural gas field, estimated to be one of the five largest natural gas fields in the world. Beijing has rapidly seized on Turkmenistan's economic troubles with Russia to step in and offer cash for gas — and influence.