China’s BRI is expanding
Published: April 8, 2019
The Belt Road Initiative of china with Railways, ports, power plants and many other projects in dozens of countries is expanding at a slower pace, but is still expanding. US, china, Russia and Japan is concerned that China is expanding at their expense. The Panama leaders welcome China as they see trade opportunities with the country. However, they want to avoid conflict with Washington.
China’s plans to build ports in the Latin American countries are alarming to Washington. Especially China’s plans in the Panama city is stirring more concerns. The region has just 4 million people. However, canal linking Atlantic and the Pacific makes it one of the busiest. The region is strategically important to both China and US.
Recently Venezuela received 62 billion dollar Chinese loan. Brazil owes 42 billion dollars and Argentina has a loan of 18 billion dollars to the Chinese. Mexico is also planning to join the BRI. Mexico believes that joining the BRI will give it a foothold that it borders US.