Officials in Pakistan announced on Monday that China’s massive Belt and Road railway project will see its $8.2 billion budget slashed by $2 billion as concerns over Pakistan’s debts to China mount under new Prime Minister Imran Khan.
The railway project was conceived as a modern upgrade to the antique railroads running between Karachi and Peshawar, financed by loans from China under the umbrella of the China-Pakistan Economic Corridor (CPEC), which is the Pakistani component of China’s effort to rebuild the fabled Silk Road trade route from centuries ago.
Khan’s administration quickly grew much more nervous about borrowing huge sums from China than his predecessor.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
The world is waking up the the Chinese threat.
ReplyDeleteTrump gets it, and the lame stream media doesn't.