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China\'s \'New Silk Road\' Is Derailed In Sri Lanka By Political Chaos And Violent Protests
China's 'New Silk Road' Is Derailed In Sri Lanka By Political Chaos And Violent Protests

It is now looking as if Sri Lanka's biggest partner in the Hambantota endeavor, China, is pulling back from what seems to have become an all out fiasco. While a deal was supposed to be formally signed on January 7th that would have seen China take over an 80% share of the struggling Hambantota port for 99 years in exchange for $1.1 billion of much needed debt relief,…

Forbes - Feb 21 15:29 GMT - more ... [ Tags: India, SriLanka, China ]

China \'Silk Road\' project in Sri Lanka delayed as Beijing toughens stance
China \'Silk Road\' project in Sri Lanka delayed as Beijing toughens stance
China 'Silk Road' project in Sri Lanka delayed as Beijing toughens stance

China will delay a planned $1.1 billion investment in a port on its modern-day "Silk Road" until Sri Lanka clears legal and political obstacles to a related project, sources familiar with the talks said, piling more pressure on the island nation. Heavily indebted Sri Lanka needs the money, but payment for China's interests in Hambantota port could be held up by…

Reuters - Feb 16 15:29 GMT - more ... [ Tags: Politics, Economy, China ]

Gary Anandasangaree
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