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Chinese Sign off on "$ Billions" New City in Ream

Posted: Thu Apr 25, 2019 4:50 pm
by Bong Burgundy
Sihanoukville: Two big Chinese companies have teamed up to invest billions of dollars to develop an international tourism on a 3,300 hectares site near Sihanoukville.

On April 24, 2019, at Le Royal Hotel, Chong Singing Co., Ltd (CITIC). and Yi Giay Thie Zhi Development Co., Ltd. (YEEJIA) signed a new investment cooperation agreement called “Sihanoukville – Gold Beach” on a land area of ​​3,300 Ha in the Ream National Park, Preah Sihanouk Province.

The total investment capital of the new city has not yet been issued, but according to YANG Jianping, CEO of the company, his side plans to invest billions of dollars for the new project.

Mr. YANG Jianping, CEO said: “Yi Giay Thien Zim Development Co., Ltd has concessions for the construction on 3,300 hectares located in Sihanoukville’s Ream National Park. The new investment project “Sihanouk New City Golden-Silver Gulf” is supported by the Royal Government of Cambodia.

YANG added that the new city will have a conference center, health and medical care center, China Yuan payment center and financial systems for the 5G era, global online training and other training facilities, basic education facilities, hotels and intelligent buildings.

He said that the company plans to cooperate with Sihanoukville International Airport in setting up a free trade area on duty-free products and duty-free technology.

He added that the infrastructure to be built in the new city includes roads and drainage systems, nearly 100 kilometers of power cables, underwater, seashore and optical cable, a sewage treatment plant, port and other important infrastructures.

The CEO noted that the signing of this demonstrates the project will grow from the land to shape the city, develop a new economy towards a modern and international era.

The Minister of Tourism said that the development project is part of a response to One Belt One Road, an initiative of the Chinese government’s winning win-win policy framework to promote multi-national economic and tourism developments along the new Silk Road, with a successful tourism product attractive for local and foreign tourists, especially Chinese tourists in the near future.


https://cne.wtf/2019/04/25/chinese-inve ... ream-park/

This project was in the news 5 years ago, when the PPP was still a newspaper.
https://www.phnompenhpost.com/national/ ... igh-places

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Thu Apr 25, 2019 4:59 pm
by Lucky Lucan
So much for "National Parks".

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Fri Apr 26, 2019 6:52 am
by Johnsell50
Why have a war when you can buy countries wholesale and the country's leaders don't mind selling?

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Fri Apr 26, 2019 7:36 am
by slavedog
Cambodians really ought to be furious about this.

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Fri Apr 26, 2019 4:01 pm
by Johnsell50
YUP!

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Sat Apr 27, 2019 5:58 am
by vladimir
Christ. Brings to mind South Africa and the Guptas. :shock:

Couldn't they at least get them to build a national energy grid in return?

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Sat Apr 27, 2019 11:29 am
by Johnsell50
That would be nice but Cambodia, along with many other poor nations, are going to find themselves so far in debt to China they will have no idea what to do except let China rule their nations...

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Sun Apr 28, 2019 8:57 am
by kinard
Johnsell50 wrote:
Sat Apr 27, 2019 11:29 am
That would be nice but Cambodia, along with many other poor nations, are going to find themselves so far in debt to China they will have no idea what to do except let China rule their nations...
It's inevitable, even the US is in debt with China, to the tune of USD1.24T.

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Sun Apr 28, 2019 11:14 am
by YaTingPom
It’s a pretty small part of the park. 6km?

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Sun Apr 28, 2019 7:06 pm
by vladimir
kinard wrote:
Sun Apr 28, 2019 8:57 am
It's inevitable, even the US is in debt with China, to the tune of USD1.24T.
Hahahahaha! :-)

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Mon Apr 29, 2019 5:27 am
by Johnsell50
vladimir wrote:
Sun Apr 28, 2019 7:06 pm
kinard wrote:
Sun Apr 28, 2019 8:57 am
It's inevitable, even the US is in debt with China, to the tune of USD1.24T.
Hahahahaha! :-)
For now. We still have 6 more years...

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Mon Apr 29, 2019 10:23 am
by YaTingPom
kinard wrote:
Sun Apr 28, 2019 8:57 am
Johnsell50 wrote:
Sat Apr 27, 2019 11:29 am
That would be nice but Cambodia, along with many other poor nations, are going to find themselves so far in debt to China they will have no idea what to do except let China rule their nations...
It's inevitable, even the US is in debt with China, to the tune of USD1.24T.
Yawn. Not this again.

So what?
Japan owns slightly less (4% IIRC), and there’s no negativity towards them, and the Fed owns a shit load more debt.

This bullshit is often quoted as bad (usually anti Chinese) but the reality is it’s not really an issue.
Even if China called in its bonds (which it couldn’t anyway) then there are plenty of people willing to buy them, because, the USD is a stable currency and the Renimbi is pegged to it, so they’d fuck themselves up. The US are still their biggest trading partner.

Of the $22 trillion US debt there’s an even bigger chunk borrowed in trust funds (social security, Medicare etc). Basically taking from Peter to pay Paul.

Think of it as a symbiotic relationship.

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Mon Apr 29, 2019 12:14 pm
by kinard
YaTingPom wrote:
Mon Apr 29, 2019 10:23 am
kinard wrote:
Sun Apr 28, 2019 8:57 am
Johnsell50 wrote:
Sat Apr 27, 2019 11:29 am
That would be nice but Cambodia, along with many other poor nations, are going to find themselves so far in debt to China they will have no idea what to do except let China rule their nations...
It's inevitable, even the US is in debt with China, to the tune of USD1.24T.
Yawn. Not this again.

So what?
Japan owns slightly less (4% IIRC), and there’s no negativity towards them, and the Fed owns a shit load more debt.

This bullshit is often quoted as bad (usually anti Chinese) but the reality is it’s not really an issue.
Even if China called in its bonds (which it couldn’t anyway) then there are plenty of people willing to buy them, because, the USD is a stable currency and the Renimbi is pegged to it, so they’d fuck themselves up. The US are still their biggest trading partner.

Of the $22 trillion US debt there’s an even bigger chunk borrowed in trust funds (social security, Medicare etc). Basically taking from Peter to pay Paul.

Think of it as a symbiotic relationship.
Was just saying that a country does not have to be poor to be in debt with China.

Symbiosis is fine, but all relationships are a struggle for dominance.

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Mon Apr 29, 2019 12:42 pm
by YaTingPom
It’s not in China’s benefit to force countries to be in their debt for life. If the countries struggle to pay off loans then it hampers development.

That’s the whole point of the Belt and Road - increase trade, invest in infrastructure so those countries are developed to then, yes you guessed it, by more Chinese products that are shipped by that same route.

It’s not fucking rocket science.

Re: Chinese Sign off on "$ Billions" New City in Ream

Posted: Mon Apr 29, 2019 1:59 pm
by kinard
YaTingPom wrote:
Mon Apr 29, 2019 12:42 pm
It’s not in China’s benefit to force countries to be in their debt for life. If the countries struggle to pay off loans then it hampers development.

That’s the whole point of the Belt and Road - increase trade, invest in infrastructure so those countries are developed to then, yes you guessed it, by more Chinese products that are shipped by that same route.

It’s not fucking rocket science.
China throws a lot of aid around the planet in the way of infrastructure, loans, the hospital ship etc... and no, you don't see them calling it in. The Chinese like to cultivate meaningful relationships in business and everything for the most part, runs smoothly, though they can be easily offended.

I recall someone saying to me that the Chinese will take over the world (in the economic sense)and we agreed it was inevitable, given China's economic growth and our growing dependency on her.

It could be termed passive imperialism, but I don't have a problem with it.