Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
September 23, Sunday 2018 8:01 PM       

       HEADLINES: Franco Mulackal should be subjected to lie detector test, says police                                              Fr. Mathew Manavath raises allegation against Kerala BJP                                              Body of toddler found                                              Bishop brought to Kuruvilangad convent, evidence collected                                              CM reaches office                                              PM Modi to launch Ayushman Bharat today                                              PM to inaugurate Sikkim's first airport Monday                                              Japanese supply ship heads to space station after delays                                              Russia warns US it is 'playing with fire' with sanctions                                              Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks                                              Gavaskar impressed with Rohit Sharma's captaincy                                              Hasan, Asghar, Rashid fined 15 per cent of their match fees                                              Kaumudi Facebook
       WORLD Next Article: Trump signals good relationship with Kim Jong Un  
       China's proposed new Silk Road hit by political, financial hurdles
 
         Posted on :16:18:55 Jan 12, 2018
   
A A
       Last edited on:16:18:55 Jan 12, 2018
         Tags: China, Silk Road hit by political, financial
 

HONG KONG: Political and financial obstacles are reportedly coming in the way of China's plan for a modern Silk Road in Eurasia that would majorly include infrastructure projects linked to railways, ports and other facilities.

According to reports appearing in various media, projects coming under the One Belt One Road Initiative (OBOR) conceived by Chinese President Xi Jinping are being cancelled, renegotiated or delayed.

From Pakistan to Tanzania to Hungary, disputes are reportedly surfacing about costs or complaints by host countries that they are getting too little out of projects built by Chinese companies and financed by loans from Beijing that must be repaid.

"Pakistan is one of the countries that is in China's hip pocket, and for Pakistan to stand up and say, 'I'm not going to do this with you,' shows it's not as 'win-win' as China says it is," ABC News quoted Robert Koepp, an analyst in Hong Kong for the Economist Corporate Network, a research firm, as saying.

He was referring to Pakistan's water authority- WAPDA- rejecting China's demand for ownership stake in the Diamer-Bhasha Dam last November.

OBOR is a loosely defined umbrella of Chinese-built or financed projects spread across 65 countries from the South Pacific through Asia to Africa and Europe. They range from oil drilling in Siberia to construction of ports in Southeast Asia, railways in Eastern Europe and power plants in the Middle East.

It is well known that governments from Washington to Moscow to New Delhi are uneasy about Beijing trying to use OBOR to develop a China-centered political structure that could erode their influence.

China on the other has consistently maintained that OBOR is a purely business venture, and has no political connotations to it.

Among projects that have been derailed or disrupted:

. Nepal cancelled China's plan to build a USD 2.5 billion dam over violation of bidding rules.

. The European Union is assessing whether Hungary violated the trade bloc's rules by awarding contracts to Chinese builders of a high-speed railway to neighbouring Serbia without competing bids.

. A Chinese oil company's bid to build a USD 3 billion refinery in Myanmar were cancelled due to financing difficulties.

. Thailand has suspended work on a USD 15 billion high-speed railway over too little business for Thai firms.

. In Tanzania, negotiations with China and another investor have restarted over ownership of a planned USD 11 billion port in Bagamoyo. The Tanzanian government is keen to know what would be its share.

The ABC News says consulting firm BMI Research has compiled a database of USD 1.8 trillion of infrastructure investments announced across Asia, Africa and the Middle East that include Chinese money or other involvement. Many are still in planning stages and some up to three decades in the future.

Pakistan and China are developing facilities for USD 60 billion, including power plants and railways to link China's far west with the Chinese-built port of Gwadar on the Indian Ocean.

None of these countries apparently wants to experience what Sri Lanka has gone through. Colombo has had given up 80 per cent stake in Hambantota Port after falling behind in repaying USD 1.5 billion borrowed from Beijing to build it.

A A
       WORLD
Next Article: Trump signals good relationship with Kim Jong Un
 
 
WORLD HEADLINES
Japanese supply ship heads to space station after delays  
Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks  
Russia warns US it is 'playing with fire' with sanctions  
US Senate committee postpones Kavanaugh hearing  
Russia warns US it is 'playing with fire' with sanctions  
Kim, Moon join hands on peak of sacred North Korean volcano  
Korean leaders undertake joint excursion to Mt. Paektu  
US-China trade war could last for 20 years: Jack Ma  
Nepal: Madhesis confident of govt addressing their demands  
Imran Khan govt auctions 70 luxury cars as part of austerity drive  
Germany rolls out world's first hydrogen train  
British PM 'irritated' by leadership speculation  
UN report on Kashmir has no mention of Pak-sponsored terrorism  
Trump claims Hurricane Maria death toll rose 'like magic'  
Iran orders the closure of a pro-reform newspaper  
Russia says no to US demands on inspections of chemical facilities  
‘Threat becomes reality’: Florence begins days of rain, wind  
Criticising government costing broadcasters in Maldives  
Suu Kyi says handling of Rohingya could have been better  
Putin urges 'security guarantees' for NKorea denuclearisation  
Japan's Abe expresses support for better Trump-Kim ties  
First ‘red heifer’ born in Israel for 2000 years triggers armageddon fears  
US wants Pakistan to fully cooperate in war against terrorism: NSA  
Pak court issues arrest warrants against former prime minister  
UN sees 70% chance of El Nino event this year  
 
Do you agree with Rahul's allegation against Modi over Rafale deal?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy