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.
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1 comment:
The world is waking up the the Chinese threat.
Trump gets it, and the lame stream media doesn't.
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