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Belt And Road

All articles tagged with #belt and road

world1 day ago

Thai crane collapse derails passenger train, leaving dozens dead

A construction crane collapsed onto a Bangkok-to-Nong Khai passenger train in northeastern Thailand, derailing the three-carriage service with about 200 people aboard. At least 29 people were killed and around 67 injured (eight of them critically) as rescuers worked amid tangled wreckage and a fire in the second carriage. The crane was part of an elevated rail project tied to a Belt and Road–linked Thai-Chinese initiative. Authorities ordered an investigation and continued rescue operations.

via CNN|
#belt-and-road#crane-collapse#isan
politics2 years ago

Xi Jinping's Plan to Unite and Develop Central Asia with China's Help

Chinese President Xi Jinping addressed leaders from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan at the inaugural China-Central Asia Summit in Xian, emphasizing the need to safeguard the security, independence, and territorial integrity of the region. He also expressed China's willingness to help its "brethren" in Central Asia to unite and support its Belt and Road plan. The Central Asian countries expressed their support for Chinese engagement in the region.

via South China Morning Post|
#belt-and-road#central-asia#china
finance2 years ago

China's Belt and Road Bailout: Billions Spent on Loan Relief.

China has spent $240 billion bailing out 22 countries, mostly Belt and Road project debtors, between 2008 and 2021, according to a study by researchers from the World Bank, Harvard Kennedy School, Kiel Institute for the World Economy and the US-based research lab AidData. Most of the loans were made in the last five years of the study, from 2016 to 2021. The PBOC requires an interest rate of 5%, compared to 2% for IMF rescue loans, and most of the loans are extended to middle-income countries considered more important to China’s banking sector.

via CNN|
#bailout#belt-and-road#china
finance2 years ago

China's Belt and Road Initiative: From Lending to Bailing Out.

China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt & Road" infrastructure, according to a study. Almost 80% of the rescue lending was made between 2016 and 2021, mainly to middle-income countries including Argentina, Mongolia and Pakistan. China's rescue lending is "opaque and uncoordinated," said Brad Parks, one of the report's authors, and director of AidData.

via Reuters|
#belt-and-road#china#debt-relief