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5 Min Read (Reuters) - The poor, small Southeast Asian country of Laos is set to cede majority control of its electric grid to a Chinese company, as it struggles to stave off a potential debt default, people with direct knowledge of the agreement said. FILE PHOTO: A farmer works in a paddy field under the power lines near Nam Theun 2 dam in Khammouane province in Laos.Picture taken October 28, 2013. REUTERS/Aubrey Belford/File Photo The deal comes at a time when critics accuse Beijing of “debt trap diplomacy” to gain strategic advantage in countries struggling to repay loans taken out under President Xi Jinping’s global “Belt and Road” infrastructure initiative. ....
5 Min Read (Reuters) - The poor, small Southeast Asian country of Laos is set to cede majority control of its electric grid to a Chinese company, as it struggles to stave off a potential debt default, people with direct knowledge of the agreement said. FILE PHOTO: A farmer works in a paddy field under the power lines near Nam Theun 2 dam in Khammouane province in Laos.Picture taken October 28, 2013. REUTERS/Aubrey Belford/File Photo The deal comes at a time when critics accuse Beijing of “debt trap diplomacy” to gain strategic advantage in countries struggling to repay loans taken out under President Xi Jinping’s global “Belt and Road” infrastructure initiative. ....
Exclusive: Taking power - Chinese firm to run Laos electric grid amid default warnings reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.