Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
July 16, Monday 2018 12:26 AM       

       HEADLINES: Accused in Abhimanyu murder: Govt under pressure as party members show concern                                              Accused in murder of finance company owner arrested                                              People should be left with their faith: V M Sudheeran                                              Congress not to observe Ramayana month                                              Forest dept should kill and sell meat of threatening wild animals: P C George                                              Congress is a party for Muslim men: PM                                              BJP aims to field celebrities as 2019 election candidates                                              Nearly 3,000 pilgrims leave Jammu for Amarnath cave shrine                                              Centre, Lt Guv creating hurdles: Pondy CM                                              India, Pak to be part of anti-terror SCO drill in Russia next month                                              Team Trump plays nice in first visit to Mexico president-elect                                              Death toll in Balochistan attack reaches 130, Pak to observe national mourning day tomorrow                                              Summit fever: Trump reaches for big moment with Putin                                              Epic Djokovic stuns Nadal to reach Wimbledon final                                              Griezmann happy if France win World Cup 'ugly'                                              Dhoni booed by Indian spectators during 2nd ODI                                              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
Summit fever: Trump reaches for big moment with Putin  
Death toll in Balochistan attack reaches 130, Pak to observe national mourning day tomorrow  
Team Trump plays nice in first visit to Mexico president-elect  
Pak: Mastung toll rises to 130, Bilawal cancels rallies  
Nawaz should return looted money: Imran Khan  
Sharif family to face trial in 2 more NAB cases inside Adiala Jail  
Theresa May presents Trump with Scottish ancestry token  
'Air strike kills 28 civilians in IS-held part of Syria'  
Nawaz plays victim, says returning to face jail for people  
Buddha of Swat smiles nearly 11 years after Taliban dynamited it  
Highways, motorways in Pak to be closed ahead of Sharif's arrival  
UN report on Kashmir 'biased and motivated': MEA  
Here's the China connection in Pakistan general election  
Merkel fires back at Trump: Germany makes 'independent decisions'  
India deeply worried on reports of ISIS acquiring chemical weapons  
US rescuer details high-risk Thai cave mission  
All 12 boys and coach rescued from Thai cave  
Panama, China open talks on free trade agreement  
Sharif, his daughter will be arrested on their arrival at any airport in Pak: Minister  
Israel closes Gaza goods crossing over Palestinian arson kites  
Thai cave rescue: Operations resume, eight boys remain trapped  
'Race against time' to rescue Japan flood victims: PM  
Vishnu idol worth crores of rupees recovered in Bangladesh  
Rescue efforts for boys trapped in Thai cave begin  
Japan floods: heavy rains claim 48 lives, at least 100 missing  
 
Who do you think will win the Football world cup 2018?
France
 
Croatia
 
Don't know
 
 
 
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