Some of China’s development projects are financed in such complex ways that even Chinese financial authorities have had trouble keeping track
Hidden debts bedevil many of China’s development projects abroad, including lots in Asia, which are financed in such complex ways, and arranged among so many different entities, that even Chinese financial authorities have had trouble keeping track.
In debt-ridden Laos, a Chinese state-owned company has already assumed control of another piece of infrastructure, part of the electric grid. But Matt Mingey of Rhodium Group, a research firm, says the railway is an example of how a Chinese infrastructure loan can be not so much a “hidden” liability as a complicated one. The joint venture that owes China $3.
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