Via the Wall Street Journal, a report on the People’s Bank of China use of currency-swap lines to support governments that borrowed heavily from Chinese banks via the BRI program: Hungry for foreign currency to shore up their dwindling reserves, some troubled countries have in recent years turned to an unusual source of funds: The People’s […]
Read more »Courtesy of NikkeiAsia, a report on how one Laotian town is thriving due to a BRI-funded railway connection: If you want to eat in the northern Lao town of Boten on the border with China, you better have some yuan on you. Boten is one of the cities that have been so changed by China’s […]
Read more »Courtesy of The Diplomat, commentary on whether Laos’ new railways could help the nation address its lack of trade with the West: When Phankham Viphavanh, the prime minister of Laos, concluded a cabinet meeting last month, there were more questions than answers over what his government was doing to fix the economy. The national currency, the […]
Read more »Via Der Spiegel, a report on how Laos’ new high-speed rail connection connecting the capital to China is a boon for many but is it a luxury it can really afford? They are all gathered in front of the railway station. Mothers from the capital with infants in their arms and holding hands with small […]
Read more »Courtesy of the Asia Times, commentary on China’s unwillingness to stomach the financial and political ramifications of a Laotian infrastructure loan default: Laos faces unprecedented financial difficulties, including US$14.5 billion worth of public and publicly guaranteed debt – around half of which is owed to China. But unlike Sri Lanka, there is no chance that Laos […]
Read more »Via Deutsche Welle, a report on Laos which is facing one of its worst economic crises in decades, with the country experiencing galloping inflation and staring at a debt default: Laos’ economy has been on the brink of collapse due to a spiraling debt crisis that is crippling the country’s finances and bringing it perilously […]
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