The figures underline both the rampant need for infrastructure development in Southeast Asia, as well as Japan’s dominance over China, despite President Xi Jinping’s push to spend on railways and ports via his signature Belt and Road Initiative.
(June 24): Japan is still winning the Southeast Asia infrastructure race against China, with pending projects worth almost one and a half times its rival, according to the latest data from Fitch Solutions.
Japanese-backed projects in the region’s six biggest economies – Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam – are valued at US$367 billion ($497 billion), the figures show. China’s tally is US$255 billion.
