After having second thoughts, several countries return to China’s belt and road plan
- ‘At the moment Pakistan does not have many better options’ than what Beijing is offering, official says
- Malaysia recommits to a long-stalled rail link project, but with a significantly reduced price tag
Some of China’s most important allies in its “Belt and Road Initiative” are back on board after a period of doubt and uncertainty, with some of these countries’ officials saying they “don’t have many options better” than Beijing’s ambitious drive despite the global concerns it has drawn.
The multibillion-dollar infrastructure plan has been the focus of scepticism from the United States and other Western countries that criticise it as “debt trap” and lacking transparency over Beijing’s geopolitical intentions behind the projects.
But in the past few months, many of the countries thought to be rethinking their involvement in the belt and road plan, including Malaysia and Pakistan, are coming back to reaffirm their commitments.
Malaysia announced on April 12 that it had signed a deal to proceed with the long-stalled East Coast Rail Link, a high-profile project under the belt and road umbrella, with the price tag significantly reduced to 44 billion ringgit (US$10.7 billion) from the original cost of 65.5 billion ringgit, and a realignment of routes.
The news is considered a public relations victory for China – just before it holds the second belt and road forum in Beijing next week.