At a forum organised by the IMF and the World Bank in Bali, Indonesia, China’s Vice Minister of Finance, Ms. Zou Jiayi, reassured the international community about China’s commitment to solve possible debt issues.
On 21 August 2018, the newly elected Prime Minister Mohamad Mahathir announced the cancellation of three BRI projects in Malaysia, including the “East Coast Rail Link” (ECRL) and two pipelines. But Malaysia is still member of the BRI.
Since 2009, China has become Malaysia’s largest trading partner. Under Xi Jinping’s presidency, Chinese investment in Malaysia has seen strong growth. While most investments have been concentrated in the infrastructure, transportation and real estate sectors, new, more diversified investments are expected.
In late August 2017, the Government of Thailand announced that the construction of a high-speed train line between Bangkok and Nong Khai, a border town next Laos, will start next October. The first phase of this project will consist of
To ensure the success of the OBOR, China is putting on education. The One Belt, One Road program aims not only at strengthening exchanges between China and the rest of the world but also at ensuring the development of Asia.