© Blanscape myanmar
© Blanscape

Myanmar, rather understandably, seems to be baulking at a proposed $7.5bn price tag for a new deepsea port to be built by the Chinese. CITIC Group won the tender to build it and has suggested a $10bn spend  on port and special economic zone. Myanmar has called it “crazy”, and has concerns following the recent $1bn Hambantota port in Sri Lanka, which led the government to borrow the money – but when it couldn’t repay the loan, had to give China a 99-year lease. “So in other words what’s on the table here is exactly what was on the table in Sri Lanka,” said an Australian academic.


Comment on this article

You must be logged in to post a comment.