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Showing posts from February 14, 2020

China’s overseas energy financing plummets to lowest in decade 8:28 pm, February 14, 2020 Bloomberg KARACHI/SINGAPORE (Bloomberg) — China’s spending on overseas energy projects has dropped to its lowest in more than a decade, as the nation focuses on domestic issues and rethinks its strategy around indebtedness and the world’s energy mix. The nation’s foreign energy financing dropped by 69% to $3.2 billion in 2019, according to data from Boston University’s Global Development Policy Center. Only three nations received financing for new projects from China’s policy banks last year, compared with five the previous year. The drop underscores how a slowing domestic economy and concerns related to debt levels in recipient nations are eroding China’s desire to wield influence through spending billions of dollars to finance mega-projects abroad, mostly through the Belt and Road Initiative announced by President Xi Jinping in 2013. The coronavirus epidemic will only add to domestic headwinds that include credit stress among companies and th

China virus infects Myanmar Belt and Road plans

Asia A Chinese tourist wears a protective face mask while visiting the Shwedagon pagoda in Yangon, February 2, 2020. Myanmar government suspended on-arrival visas for Chinese tourists on February 1, 2020. Photo: AFP Forum via Nurphoto/ Shwe Paw Mya Tin Lethal coronavirus outbreak highlights unforeseen risk of greater connectivity with China By BERTIL LINTNER , CHIANG MAI I Inmid-January, Chinese President Xi Jinping made a historic visit to Myanmar with a pocket full of promises. Xi vowed to build and finance big new infrastructure projects to connect the two neighbors in unprecedented trade-promoting ways in a so-called China-Myanmar Economic Corridor, which if realized as envisioned would serve as a poster child for his wider Belt and Road Initiative in Southeast Asia. Fast forward three weeks to the coronavirus outbreak, which has killed at least 25 and infected over 24,000 in China, has spread contagion panic worldwide – and has suddenly put those grand Myanmar plans into

Foundation stone of water scheme laid in Sui

SALEEM SHAHID QUETTA: Balochistan Chief Minister Jam Kamal Khan has said that Sui town has played a very important role in the development of the country as it has been providing gas to different parts of the country since 1954, fulfilling energy requirements of the country to a large extent, but it is a pity that even in 2020 the area is still deprived of gas, water and other such basic facilities because of wrong policies of all previous governments. He was speaking at a ceremony held to lay foundation-stone of a water supply scheme in the area. He said that Sui area had remained deprived of these basic facilities because of disparity in distribution of funds among different districts and areas of Balochistan. The chief minister said that present government had adopted a new strategy to develop all areas of the province under the available resources and resolve people’s problems wherever and in whatever way possible. Because of following this strategy, he said, development work had b