China’s ‘belt-road’ project shock, Malaysians pull their steps back.
China’s President Xi Jinping’s very ambitious ‘Belt-Road’ (OBOR) project has been hit hard. Malaysia has canceled their move with this project and canceled it. On the last day of his visit to China, this information has been given. Let us tell you that all the world countries including India have objections from this project of China. India, Gilgit Baltistan and Pakistan Occupied Kashmir (POK), is going through the disputed area, telling the Chinese project against its propaganda.
It is feared that China can use the huge amount of money given to run this project as a loan trap. Malaysian Prime Minister Mahatir Mohammed has also informed about the cancellation of the project by referring to the money. Mahatir told that both the President of China and the Prime Minister have accepted their decision. Earlier China had claimed that the investment on the project was a deal of profit for both countries.
In this project, the $ 20 billion East Coast Rail gender and $ 2.3 billion worth of two energy pipelines were already going to suspend. Mahatir said, ‘This whole case was to put a lot of money in it and our strength was not so much. We can not pay this money and we do not even need these projects in Malaysia. ” However, Mahatir also said that if need be, this project can be restarted in the future. PM said that Malaysian’s focus is to reduce national debt.
Alleging the foolishness of his previous Najeeb Rajak government, Mahatir said that if we are not alert about our loan, we can become bankrupt. Mahatir has come to power by defeating Najib Razak. At present, many cases of corruption are going on. Mahatir said that the money will still have to be paid as a penalty to get out of these projects. He also said that we also need to know what happened to the money given so far for these projects.