China Faces Pushback on Belt and Road Indebtedness (The Asset)
CHINA is facing growing controversy surrounding the debts associated with Belt and Road projects. Pakistani politicians are warning that if they are forced to go to the International Monetary Fund for assistance, the financing arrangements of the China Pakistan Economic Corridor will have to be fully disclosed.
At the same time Malaysia’s new Prime Minister Mahathir Mohamad has ordered a temporary halt to construction work on the East Coast Rail Link (ECRL), and wants to use a planned official visit to China in August to renegotiate some of the terms of the deal.
Meanwhile China has hit back at US media articles on the so called “debt trap” that it has allegedly created in Sri Lanka, with Foreign Ministry spokesperson Lu Kang saying that the reports are “a gross distortion of facts”, and are “either irresponsible or engineered by people with ulterior motives”. READ MORE
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