By John F. Copper
This three-volume paintings is the 1st accomplished research of China's overseas reduction and funding international relations to track its evolution because the PRC's founding in 1949. quantity II presents an research of China's international relief and funding to nations and nearby organisations in Asia from 1950 to the current day, interpreting international coverage objectives.
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Additional info for China’s Foreign Aid and Investment Diplomacy, Volume II: History and Practice in Asia, 1950-Present
275 The loan was very concessionary: a 20-year repayment period at an interest rate of 3 percent and a 5-year grace period, with which other nations and even international financial organizations could not compete. The result was no competitive bidding and overcharges for many goods and services by the Chinese companies involved became a problem. The Chinese involved in the project did not speak English; the Filipinos did not speak Chinese. Thus all talks needed interpreters. There were not enough engineers for the project and another loan had to be negotiated to resolve this matter.
In 2008, the Timor-Leste government signed a deal with the Chinese Nuclear Industry 22nd Construction Company to electrify the country. The project was budgeted to cost $375 million to be paid for over four years. 329 China put other monies into Timor-Leste’s energy resources. 330 Nothing materialized from this in terms of China buying oil, but natural gas appeared to be promising. 331 China was motivated to provide aid to Timor-Leste, first because it was seen as a country where a war of national liberation might succeed.
219 China apparently wanted to have a greater presence in Laos when the Communist Pathet Lao took control of the country, which happened in December 1975. 220 A water works and a printing factory were subsequently opened, and China provided technical training and scholarships to Laotian students to study in China. 221 However, the Soviet Union took a special interest in Laos at this time and its aid overshadowed China’s. As a result, in 1978 the Laotian government supported Vietnam’s invasion and occupation of Cambodia causing relations with China to turn south.