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Eurasianet (23 November 2020)

Dirk van der Kley

Beijing has adopted a new economic model for the region, investing less in major infrastructure and spreading its risk.

Roads, pipelines, coal-fired power plants: not so much anymore.

Beijing has changed course. It now rarely funds major infrastructure projects in Central Asia. Instead the People’s Republic has shifted to manufacturing: a bus factory here, a cement plant there. When Beijing does lend, it is still from its policy banks (China Development Bank and China Eximbank), but preferably after securing joint funding from local partners or other countries.

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