Latest Trades
iStupidOPENLONG$1.470CHINA SUNSINE CHEM HLDGS LTD.
iStupidCLOSEDLONG-10.17%THAI BEVERAGE PUBLIC CO LTD
iStupidCLOSEDLONG-6.83%FU YU CORPORATION LTD

China Belt and Road Run Out of Money?
#61
China built US$1 bil Port in Siri Lanka.. but no ship want to stop. The Chinese just wasting their money away.. now what they have is a 99 year lease..

[Image: DbDRnhTUwAA3wrb.jpg:large]

Quote:COLOMBO (BLOOMBERG) - Each year roughly 60,000 ships vital to the global economy sail through the Indian Ocean past a Chinese-operated port on the southern tip of Sri Lanka. Almost none of them stop to unload cargo.

The eight-year-old Hambantota port - with almost no container traffic and trampled fences that elephants traverse with ease - has become a prime example of what can go wrong for countries involved in President Xi Jinping's Belt and Road trade and infrastructure initiative.

Sri Lanka borrowed heavily to build the port, couldn't repay the loans, and then gave China a 99-year lease for debt relief.

http://www.straitstimes.com/asia/south-a...nt-to-stop
Quote
Users browsing: 1 Guest(s)


Forum Jump: