Chinese ambassador expresses confidence in Belt and Road Initiative benefiting Thailand and China

[webfact]

China's ambassador to Thailand, Han Zhiqiang, yesterday. Picture courtesy of Varuth Hirunyatheb.

 

by Mitch Connor

Chinese Ambassador Han Zhiqiang expressed his confidence yesterday that China’s Belt and Road Initiative (BRI) would foster mutual growth and provide numerous benefits to both Thailand and China.

 

Speaking at a seminar titled “Contemporary China with the World: An Exchange of a New Generation between Thailand and China,” the ambassador highlighted the BRI’s role in guiding and advancing bilateral relations while creating a new, open, and inclusive system for development. The event took place at Chandrakasem Rajabhat University and was organised by several institutions, including the One Belt One Road Research Centre and the Thai-Chinese Strategic Research Centre.

Ambassador Han Zhiqiang discussed the alignment between Thailand’s 20-year strategic plan and the Thailand 4.0 policy, which focuses on the Bio-Circular-Green Economic Model (BCG), with China’s BRI objectives. He emphasised that both nations have comprehensive development policies and share a vision for a sustainable future.

 

A key symbol of cooperation in connectivity and infrastructure development, according to the Chinese ambassador, is the Chinese-Thai rail development project. The second phase of this project is set to start in 2024 and finish in 2028. Once completed, the state-of-the-art rail system will energise economic development and significantly reduce the cost of transporting goods between Thailand, Laos, and China.

 

Full story: https://thethaiger.com/news/national/chinese-ambassador-expresses-confidence-in-belt-and-road-initiative-benefiting-thailand-and-china

 

-- © Copyright Thaiger 2023-04-25

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

[RandiRona]

Which port or city they are eyeing after capturing one from Srilanka and Cambodia?

[Will B Good]

Chinese ambassador expresses confidence in Belt and Road Initiative benefiting China

[JeffersLos]

Chinese high speed trains carrying Chinese goods straight through Laos and Thailand to/from Malaysia and Singapore using Chinese fuel benefits Thai train spotters, I guess. 

[dinsdale]

3 hours ago, JeffersLos said:

Chinese high speed trains carrying Chinese goods straight through Laos and Thailand to/from Malaysia and Singapore using Chinese fuel benefits Thai train spotters, I guess. 

+ they'll bring in Chinese workers

The use of Chinese labor on BRI projects has been a contentious issue. The governments and populations of host countries usually seek to increase the proportion of local hires on such projects, to increase local income and skills transfer. Chinese firms, however, seek to keep labor costs down while accommodating Beijing’s political preferences. 

https://www.cfr.org/blog/who-built-labor-and-belt-and-road-initiative

Edited April 25, 2023 by metisdead
Edited as per fair use policy.

[Doctor Tom]

33 minutes ago, Will B Good said:

Chinese ambassador expresses confidence in Belt and Road Initiative benefiting China

and only China .  'There are none so blind............' etc 

Edited April 25, 2023 by Doctor Tom

[Isaan sailor]

Does anyone think CCP’s land ambitions would stop at Taiwan?

[John Drake]

B&R going to suck up Thai poultry, fruits, vegetables, and building materials, and leave Thailand with inflation

Edited April 25, 2023 by John Drake

[spidermike007]

It is a good policy to never trust the CCP. They would not know a good intention if it bit them on the butt. 

[proton]

Well he would say that, the only country this benefits is China by exploiting others.

[Mavideol]

does anybody would expect a Chinese ambassador say anything different... one word of advise, Thailand be careful with what u wish for, wouldn't trust China on any type of investment as they have their own agenda as they did/do with African and South America countries, some now regret receiving the "forced" Chinese loans

[animalmagic]

Belt and Road - the seizing of strategic resources through toxic debt!

[Gweiloman]

The Global South is moving at unprecedented pace away from the collective West and rapidly de-dollarising as the latter is in clear decline. Thailand would do well to follow accordingly.

 

The so called debt trap diplomacy has been thoroughly debunked and only brought up by those who is brainwashed by state funded MSM.

[gearbox]

4 hours ago, JeffersLos said:

Chinese high speed trains carrying Chinese goods straight through Laos and Thailand to/from Malaysia and Singapore using Chinese fuel benefits Thai train spotters, I guess. 

A friend of mine used the Laos railway recently, very happy, modern infrastructure.

 

Compare that to farangs "investments",  usually bars with prositutes.

[John Drake]

19 minutes ago, gearbox said:

A friend of mine used the Laos railway recently, very happy, modern infrastructure.

 

Compare that to farangs "investments",  usually bars with prositutes.

And compare that to the Chinese triad kidnapping ring investments.

[RocketDog]

1 hour ago, Gweiloman said:

The Global South is moving at unprecedented pace away from the collective West and rapidly de-dollarising as the latter is in clear decline. Thailand would do well to follow accordingly.

 

The so called debt trap diplomacy has been thoroughly debunked and only brought up by those who is brainwashed by state funded MSM.

Of course this is nonsense but it does raise the question of who brainwashed you.

 

BTW, the dollar is under pressure, and has been for decades, but the idea of any country "rapidly de-dollarising" is simply silly.

 

What currency would you like to see become the world's reserve currency instead?

Wait, let me guess.......

[hotchilli]

5 hours ago, webfact said:

Chinese Ambassador Han Zhiqiang expressed his confidence yesterday that China’s Belt and Road Initiative (BRI) would foster mutual growth and provide numerous benefits to both Thailand and China.

From the Chinese prospective of course.

Thailand is going to learn a very hard lesson soon, if the don't curb the Chinese invasion.

[hotchilli]

5 hours ago, RandiRona said:

Which port or city they are eyeing after capturing one from Srilanka and Cambodia?

Eyeing the Eastern Seaboard?

[Burma Bill]

6 hours ago, webfact said:

The second phase of this project is set to start in 2024 and finish in 2028.

Oh really - wishful thinking? So when will the completion date be (all three phases) 2040/2050??

 

Line length	253 km (157 mi) (Phase 1) 356 km (221 mi) (Phase 2) 16 km (9.9 mi) (Phase 3)

 

Phase 1 - Bangkok to Korat

Phase 2 - Korat to Nong Khai

Phase 3 - Nong Khai via new bridge over the Mekong to link with HST in Vientiane.

 

Other interesting references:

China will operate and maintain the system for the first three years of operation. Both countries will share responsibility from the third to seventh years. Afterwards, Thailand will have sole responsibility, and China will advise. China will provide training for operations and maintenance

As of Q4 2022, the "first phase between Bangkok and Nakhon Ratchasima is [...] behind schedule"; furthermore, it's "15% completed when it should have been 37%"; the Phase 1 line was^[8][9] due to be completed in 2026 - however, media says that the main contract will have to be extended.

In 2017, the spur line between Kaeng Khoi and Map Ta Phut (Industrial Estate in Rayong) has been scrapped due to the reason that two countries are unable to reach a loan agreement.

 

https://en.wikipedia.org/wiki/Bangkok–Nong_Khai_high-speed_railway

[RandiRona]

2 hours ago, hotchilli said:

Eyeing the Eastern Seaboard

I think they are also trying to secure fertile north and north east and China is net importer of food and Thailand is exporter. In other countries where there was any democracy CCP did iron clad contract, in Thailand, they just need to buy Generals....

[Selatan]

12 hours ago, dinsdale said:

+ they'll bring in Chinese workers

The use of Chinese labor on BRI projects has been a contentious issue. The governments and populations of host countries usually seek to increase the proportion of local hires on such projects, to increase local income and skills transfer. Chinese firms, however, seek to keep labor costs down while accommodating Beijing’s political preferences. 

https://www.cfr.org/blog/who-built-labor-and-belt-and-road-initiative

If you want a project to be completed quicker and cheaper, you need more Chinese workers. In Malaysia, the local workers working on the Chinese-funded East Coast Rail Link (ECRL) complained that they could barely keep up with their Chinese counterparts.

 

And if you want a project to begin earlier, you need Chinese loans, or else wait for years for your own funds to become available.

[Selatan]

13 hours ago, RandiRona said:

Which port or city they are eyeing after capturing one from Srilanka and Cambodia?

Here's a good read:
The Chinese ‘Debt Trap’ Is a Myth
And here's a fact that many didn't know - that Sri Lanka's Hambantota port project were supported by two Western feasibility studies - first by a Canadian firm, then later by a Danish firm.

Another fact is that the Sri Lanka had no problem servicing the Hambantota port loan -  it was having a problem servicing other loans 

 

Quote

Steep payments on international sovereign bonds, which comprised nearly 40 percent of the country’s external debt, put Sirisena’s government in dire fiscal straits almost immediately. When Sirisena took office, Sri Lanka owed more to Japan, the World Bank, and the Asian Development Bank than to China. Of the $4.5 billion in debt service Sri Lanka would pay in 2017, only 5 percent was because of Hambantota. The Central Bank governors under both Rajapaksa and Sirisena do not agree on much, but they both told us that Hambantota, and Chinese finance in general, was not the source of the country’s financial distress.

Quote

There was also never a default. Colombo arranged a bailout from the International Monetary Fund, and decided to raise much-needed dollars by leasing out the underperforming Hambantota Port to an experienced company—just as the Canadians had recommended. There was not an open tender, and the only two bids came from China Merchants and China Harbor; Sri Lanka chose China Merchants, making it the majority shareholder with a 99-year lease, and used the $1.12 billion cash infusion to bolster its foreign reserves, not to pay off China Eximbank.

 

[Gweiloman]

12 minutes ago, Selatan said:

If you want a project to be completed quicker and cheaper, you need more Chinese workers. In Malaysia, the local workers working on the Chinese-funded East Coast Rail Link (ECRL) complained that they could barely keep up with their Chinese counterparts.

 

And if you want a project to begin earlier, you need Chinese loans, or else wait for years for your own funds to become available.

In many cases (Africa), they could never ever raise the funds by themselves. Contrary to what a lot of less informed farangs think, the loans from the World Bank and IMF incurred much, much higher interest rates than loans from China and Chinese companies. That’s one of the many reasons why the majority of African countries prefer to deal with China than Western countries.

[RandiRona]

24 minutes ago, Selatan said:

Here's a good read:
The Chinese ‘Debt Trap’ Is a Myth
And here's a fact that many didn't know - that Sri Lanka's Hambantota port project were supported by two Western feasibility studies - first by a Canadian firm, then later by a Danish firm.

Another fact is that the Sri Lanka had no problem servicing the Hambantota port loan -  it was having a problem servicing other loans 

 

 

Yes , load countries which are already in huge debt with high interest and short loan terms and grab their land. So in layman terms, CCP are loan sharks and Mafia everyone should avoid.

A good read for you as well. These are links so feel free to learn ????

China debt trap is a term used to describe a situation where a country borrows money from China for infrastructure projects and then struggles to repay the debt, leading to China gaining leverage or control over the borrower’s assets or policies¹. Some examples of countries that have been accused of falling into China’s debt trap are Laos¹, Sri Lanka², and Djibouti².

China’s debt trap may affect Africa in various ways, such as:

• It may increase the debt burden and vulnerability of some African countries, especially those that rely heavily on China for financing their infrastructure projects. For instance, Zambia, Angola, and Djibouti are among the countries that have high debt-to-GDP ratios and high exposure to China¹ .
• It may create a dependency and loss of agency for some African countries, as they may have to accept China’s terms and conditions for debt relief or restructuring, or grant China access to their natural resources or strategic assets. For example, China acquired a 99-year lease of a port in Djibouti after the country failed to repay its debts¹.

Some of the implications of China’s debt trap are:

• It may undermine the sovereignty and autonomy of the borrower countries, as they may have to cede strategic assets or align with China’s interests in exchange for debt relief or restructuring¹².
• It may create a risk of debt distress and instability in the borrower countries, as they may face difficulties in servicing their debts amid the COVID-19 pandemic and its economic fallout. This may also affect the global debt relief efforts, as China is the largest sovereign creditor to the world’s poorest countries².

Edited April 25, 2023 by RandiRona

[Selatan]

5 minutes ago, RandiRona said:

Yes , load countries which are already in huge debt with high interest and short loan terms and grab their land. So in layman terms, CCP are loan sharks and Mafia everyone should avoid.

A good read for you as well. These are links so feel free to learn ????

China debt trap is a term used to describe a situation where a country borrows money from China for infrastructure projects and then struggles to repay the debt, leading to China gaining leverage or control over the borrower’s assets or policies¹. Some examples of countries that have been accused of falling into China’s debt trap are Laos¹, Sri Lanka², and Djibouti².

China’s debt trap may affect Africa in various ways, such as:

• It may increase the debt burden and vulnerability of some African countries, especially those that rely heavily on China for financing their infrastructure projects. For instance, Zambia, Angola, and Djibouti are among the countries that have high debt-to-GDP ratios and high exposure to China¹ .
• It may create a dependency and loss of agency for some African countries, as they may have to accept China’s terms and conditions for debt relief or restructuring, or grant China access to their natural resources or strategic assets. For example, China acquired a 99-year lease of a port in Djibouti after the country failed to repay its debts¹.

Some of the implications of China’s debt trap are:

• It may undermine the sovereignty and autonomy of the borrower countries, as they may have to cede strategic assets or align with China’s interests in exchange for debt relief or restructuring¹².
• It may create a risk of debt distress and instability in the borrower countries, as they may face difficulties in servicing their debts amid the COVID-19 pandemic and its economic fallout. This may also affect the global debt relief efforts, as China is the largest sovereign creditor to the world’s poorest countries².

 

[RandiRona]

2 minutes ago, Selatan said:

 

Good now when you are returning Ports back to Srilanka , Hambantota and Laos ? 

[Selatan]

1 minute ago, RandiRona said:

Good now when you are returning Ports back to Srilanka , Hambantota and Laos ? 

You didn't bother to read the article by the Atlantic that I have provided? 

[Gweiloman]

15 minutes ago, RandiRona said:

Yes , load countries which are already in huge debt with high interest and short loan terms and grab their land. So in layman terms, CCP are loan sharks and Mafia everyone should avoid.

A good read for you as well. These are links so feel free to learn ????

China debt trap is a term used to describe a situation where a country borrows money from China for infrastructure projects and then struggles to repay the debt, leading to China gaining leverage or control over the borrower’s assets or policies¹. Some examples of countries that have been accused of falling into China’s debt trap are Laos¹, Sri Lanka², and Djibouti².

China’s debt trap may affect Africa in various ways, such as:

• It may increase the debt burden and vulnerability of some African countries, especially those that rely heavily on China for financing their infrastructure projects. For instance, Zambia, Angola, and Djibouti are among the countries that have high debt-to-GDP ratios and high exposure to China¹ .
• It may create a dependency and loss of agency for some African countries, as they may have to accept China’s terms and conditions for debt relief or restructuring, or grant China access to their natural resources or strategic assets. For example, China acquired a 99-year lease of a port in Djibouti after the country failed to repay its debts¹.

Some of the implications of China’s debt trap are:

• It may undermine the sovereignty and autonomy of the borrower countries, as they may have to cede strategic assets or align with China’s interests in exchange for debt relief or restructuring¹².
• It may create a risk of debt distress and instability in the borrower countries, as they may face difficulties in servicing their debts amid the COVID-19 pandemic and its economic fallout. This may also affect the global debt relief efforts, as China is the largest sovereign creditor to the world’s poorest countries².

From your link, the word that jumps out at me is may, may, may.

 

If you own a gun, you may use it to shoot your children or they may use it to shoot you (it has happened, in you know where). For that matter, if you own a car you may drive it off a cliff to try to kill yourself and your family. That happened too (again in the same country).

 

Why don’t you give actual examples instead? (Hint: there aren’t any).

[RandiRona]

17 minutes ago, Gweiloman said:

From your link, the word that jumps out at me is may, may, may.

 

If you own a gun, you may use it to shoot your children or they may use it to shoot you (it has happened, in you know where). For that matter, if you own a car you may drive it off a cliff to try to kill yourself and your family. That happened too (again in the same country).

 

Why don’t you give actual examples instead? (Hint: there aren’t any).

They were right there if you bothered to read, but I know you don't get paid to read but post ????. Keep going TROLL!!

Some examples of countries that have been accused of falling into China’s debt trap are Laos¹, Sri Lanka², and Djibouti².

[RandiRona]

25 minutes ago, Selatan said:

You didn't bother to read the article by the Atlantic that I have provided? 

So do you have a date to return Ports back to Srilanka , Djibouti and Laos ? It aint happening , says Winnie the pooh!!