Another project that it is rumoured could be funded by China is the huge RM 200M ($45.1Bn) port on Carey island. Even if this port isn’t sponsored by China, Malaysia understands the need for cooperation to create mutually beneficial and sustainable growth.
Malaysian Prime Minister, Najib Razak, recently returned from a visit to China having secured RM 144Bn ($32.5 Bn) worth of deals. Although many see this as a groundbreaking achievement that would go a long way to help boost the country’s economy, there has been a bit of backlash as some see this as the selling off of Malaysia’s sovereignty and compromising territorial claims in the South China Sea. At the same time, businessmen are complaining that they could be overwhelmed by and lose business to cash- rich Chinese companies.
And what about Singapore as the shipping hub of SE Asia?