Title : Fearing They Will Bankrupt The Country, Malaysia Cancels Two Massive Chinese Projects
link : Fearing They Will Bankrupt The Country, Malaysia Cancels Two Massive Chinese Projects
Fearing They Will Bankrupt The Country, Malaysia Cancels Two Massive Chinese Projects
Reuters: Malaysia's Mahathir cancels China-backed rail, pipeline projects
KUALA LUMPUR/BEIJING (Reuters) - Malaysian Prime Minister Mahathir Mohamad said on Tuesday that the Chinese-funded $20 billion East Coast Rail Link (ECRL) project and a natural gas pipeline project in Sabah will be canceled for now, according to media reports.
Mahathir made the comments while addressing the media in Beijing during his five-day trip to China. He said the projects, would be canceled until such time as Malaysia can afford it.
The Prime Minister’s office confirmed the comments Mahathir made to reporters in Beijing.
Prior to his China visit, Mahathir had vowed repeatedly to discuss what he called “unfair” Chinese infrastructure deals authorized by his predecessor Najib Razak, whose near-decade long rule ended in electoral defeat in May amid a massive financial scandal.
Mahathir said he relayed the matter to China and they understood the problems faced by Malaysia, the New Straits Times (NST) reported.
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WNU editor: Malaysia wants to avoid the same fate that happened to Sri Lanka and its debt obligations to China .... This Is How China Got A Port It Could Use In Sri Lanka (June 28, 2018).
More News On Malaysia Canceling Two Massive Chinese Projects
Malaysian PM Says China-Financed Projects Canceled -- US News and World Report/AP
Burdened with debt, Malaysia cancels China-backed projects for now -- AFP
‘We Cannot Afford This’: Malaysia Pushes Back Against China’s Vision -- The New York Times
Chinese ‘projects will not go on’: Mahathir blasts Najib’s ‘stupidity’ -- SCMP
Malaysia cancels two massive Chinese projects, fearing they will bankrupt the country -- Washington Post
Malaysia has axed $22 billion of Chinese-backed projects, in a blow to China's grand plan to dominate world trade -- Business Insider
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