BRI scepticism should prompt rigour, not rejection
Singapore's famed prudence can be put to use in ensuring that the promised Silk Road proves a lifeline, not a fiscal noose, for Asean's ambitions
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Janice Heng
IT'S a well-worn, if linguistically inaccurate, cliche that the Chinese word for "crisis" is composed of the characters for "danger" and "opportunity". With China's Belt and Road Initiative (BRI), however, massive opportunities themselves seem to be accompanied by lurking dangers - if you subscribe to one strand of anxiety about the infrastructure push, at least.
Yet, rather than being seen as pouring cold water on the scheme, such worries might be precisely what is needed to take the BRI forward.
As the BRI unfolds, cautionary tales about white elephants or crippling debt have surfaced in its wake. One oft-cited example is Sri Lanka's Hambantota Port, which racked up such deep losses that a majority stake had to be handed over to China. Some participants have grown wary, with Malaysia's new government suspending several BRI projects last year.
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