Vast Chinese Loans Pose Risks to Developing World
The future rail link cuts its way through the jungles of Laos for over 400 kilometers. Soon, trains will be rolling through -- over bridges, through tunnels and across dams built just for the line, which runs from the Chinese border in the north to the Laotian capital of Vientiane on the Mekong River. After five years of construction, the line is set to go into service in 2021. And the Chinese head of one of the sections has no doubt that it will be finished on time. "Our office alone employs 4,000 workers," he says. There is also no lack of money: The Chinese government in Beijing has earmarked around 6 billion dollars for the project and has recently become both Laos's largest creditor and most significant provider of development aid.
