Malaysia Scuttle Multi-Billion Dollar Project Supported by China
The multibillion-dollar railway project in Malaysia sponsored by China was closed due to the high cost of construction. This was stated on January 26th by the government officials. This railway line (ECRL) was supposed to connect the eastern and western coasts of the peninsula.
In recent months, Malaysia has suspended several major projects in an attempt to reduce the country's huge debt of one trillion ringgits (USD $251 billion).
It should be recalled that the previous Malaysian government under Prime Minister Najib Razak has established friendly ties with China and has signed a number of documents for projects funded by Beijing.