fbpx

Malaysia May Cancel Two Major Belt & Road Projects

On Tuesday, August 21, Malaysian president Mahathir Mohamad concluded his first visit in Beijing. During his 5-day visit, Mohamad re-negotiated with China for some $22 billion U.S. dollar infrastructure projects under the Belt and Road Initiative (also known as the One Belt One Road (OBOR) Initiative), in an effort to free Malaysia from their national debt crisis. Unlike his Beijing-friendly precursor, Mahathir is attempting to cancel two major China-backed infrastructure projects already in agreement with Beijing. – Weiting Li

Canada blocks Chinese company from acquiring Aecon

As of May 31, the Canadian government announced that it was blocking a proposed $1.18 billion USD acquisition of the Canadian firm Aecon Group Inc. by the China Communications Construction Company (CCCC) over national security concerns. – Adriana Ray