Ports, trains and trade: Xi Jinping to offer Myanmar billion-dollar bounty

Topic: 

Rakhine State, Myitsone Dam, Myanmar, Xi Jinping

Description: 

"A high-speed rail line to the east, a deep-sea port to the west, and a makeover for commercial heart Yangon -- Chinese leader Xi Jinping arrives in Myanmar on Friday laden with investment pledges worth billions which could reshape the country. Here are five of the main projects -- and some of the issues plaguing them: The crown jewel of Xi's two-day visit will be a $1.3 billion deep-sea port off Myanmar's troubled western Rakhine state. The Kyaukphyu port will serve as Beijing's gateway to the Indian Ocean. Myanmar has successfully hammered down the price from $7.2 billion to swerve fears of a Chinese debt-trap, but will still pick up 30 percent of the bill. Alongside the port, swathes of paddy fields and teak forests are poised to be transformed into a vast industrial zone of garment and food processing factories. Officials insist ethnic Rakhine will be the first in line for some of the 400,000 jobs the zone is slated to bring -- but many suspect the benefits will mainly be siphoned off outside the state. The port is the centre piece of the China-Myanmar Economic Corridor (CMEC) project -- a key thread in China's global Belt and Road vision..."

Source/publisher: 

"The Economic Times" (India)

Date of Publication: 

2020-01-15

Date of entry: 

2020-01-23

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar, China

Language: 

English

Resource Type: 

text

Text quality: 

    • Good