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Showing posts from January 20, 2018

Pakistan, Nepal, Myanmar Back Away From Chinese Projects

https://www.voanews.com/a/three-countries-withdraw-from-chinese-projects/4148094.html December 04, 2017 3:44 AM Saibal Dasgupta Anjana Pasricha Chinese President Xi Jinping speaks during a news conference at the end of the Belt and Road Forum at the Yanqi Lake International Conference Center, north of Beijing, May 15, 2017. In the short space of just a few weeks, Pakistan, Nepal and Myanmar have canceled or sidelined three major hydroelectricity projects planned by Chinese companies. The rejection of the three projects, worth nearly $20 billion, comes as a serious jolt to China’s ambitious trade-linking project, the Belt and Road Initiative (BRI). Pakistan cited tough financing terms imposed by China as its reason for canceling the $14 billion Diamer-Bhasha Dam project. Nepal’s deputy Prime Minister recently announced a decision to scrap a $2.5 billion contract for a hydroelectricity project, accusing the Chinese company of financial irregularities. And Myanmar, which halted a