말레이시아 총리 “중국과의 일대일로 협력사업 2건 취소” Malaysia cancels two big Chinese projects, fearing they will bankrupt the country

Malaysia cancels two big Chinese projects, fearing they will bankrupt the country

By Amanda Erickson August 21

BEIJING — Malaysian Prime Minister Mahathir Mohamad announced Tuesday he will shelve two major infrastructure projects by Chinese companies for being too expensive for his debt-ridden country.

      Malaysian Prime Minister Mahathir Mohamad speaks during a news conference at the Great Hall of the People in Beijing 

      on Aug. 20, 2018. (How Hwee Young/AFP/Getty Images)

말레이시아 총리 “중국과의 일대일로 협력사업 2건 취소” "2천500억 달러 상당 국가 채무로 사업할 수 없어"   중국을 방문 중인 마하티르 모하마드 말레이시아 총리가 20일 베이징에서 리커창 총리와 회담했다. 베이징을 방문한 마하티르 모하마드 말레이시아 총리가 21일 중국과의 대형 경제협력 사업 2개를 취소했다고 밝혔습니다. 마하티르 총리는 이날 닷새간의 중국 방문을 마치고 기자들과 만나 중국이 추진하는 말레이시아 동부해안철도와 천연가스관 건설 사업을 취소했다고 말했습니다. 그러면서 중국의 시진핑 국가주석과 리커창 총리에게 눈덩이처럼 불어나는 말레이시아의 2천500억 달러 상당의 국가 채무로 인해 사업을 계속할 수 없다고 설명했다고 말했습니다. 마하티르 총리는 말레이시아가 불필요한 경제협력 사업을 위해 너무 많은 자금을 빌린데다 돈을 갚을 여력도 없다고 덧붙였습니다. 이번에 취소된 경제협력 사업은 전임자인 나집 라작 전 총리가 추진한 것으로 그는 현재 뇌물 수수 등의 혐의로 기소돼 있습니다. VOA 뉴스

edited by kcontents

The rejection of the projects, part of China’s signature Belt and Road Initiative (BRI), was in stark contrast to the prime minister’s cozy dinner with Chinese President Xi Jinping the day before, when they said they were “optimistic” about their shared future and promised to “enhance mutual political trust.”

“I believe China itself does not want to see Malaysia become a bankrupt country,” he said. “China understands our problem and agreed.”  

One of the projects, dubbed the East Coast Rail Link, would have connected the South China Sea with strategic shipping routes in Malaysia’s west, providing an essential trade link. The other was a natural gas pipeline in Sabah, a Malaysian state on the island of Borneo. 

Mahathir said several key details, including compensation, still have to be worked out.

At a Tuesday news conference, a Chinese spokesman said Xi was “deeply satisfied” with the visit. “China has always carried out economic and trade and investment cooperation with other countries on the principle of mutual benefit,” he said.

“Of course, cooperation between any two countries will inevitably lead to some problems, and different views may emerge at different times,” the official said, adding that the countries would continue to work together.

Mahathir’s decision is a big blow for China, said Marina Rudyak, who studies Chinese foreign aid at Heidelberg University. “Xi Jinping frames BRI as China’s contribution in a ‘new era’ where China is a responsible global player,” she wrote in an email. “This means the canceled projects signify a failure of China’s economic diplomacy.” 

With its Belt and Road Initiative, China thought it could outperform Western projects “while at the same time helping Chinese companies to internationalize,” Rudyak said. “Turns out, there is a reason for all those bulky international standards China had frequently portrayed as obsolete and obstructing development.”

The World Bank, which funds infrastructure projects in many developing countries, has said the Belt and Road Initiative comes with potential benefits and risks. In a blog post this spring, a senior World Bank economist said successful BRI projects could improve infrastructure and commerce in countries that have had difficulty integrating into the world economy.

But the economist, Michele Ruta, added that for some countries, “the financing required for BRI projects may expand debt to unsustainable levels.” Big infrastructure projects can also carry “environmental, social, and corruption risks,” he said, especially “in countries involved in the BRI, which tend to have relatively weak governance.”

https://www.washingtonpost.com/world/asia_pacific/malaysia-cancels-two-massive-chinese-projects-fearing-they-will-bankrupt-the-country/2018/08/21/2bd150e0-a515-11e8-b76b-d513a40042f6_story.html?noredirect=on&utm_term=.c1ed311202fb

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