I am sharing my comments published in South China Morning Post, today on the topic published yesterday with URL given below.
Capital control may be one reason for delay of BRI projects, but that is not the only reason. The insecurities of host countries, trust deficit of some countries viewing OBOR exploitative, and security concerns of China and some host countries are also reasons for delay, to name a few.
The excitement and urge of Private Companies to utilize their over-capacities, and make their trade surpluses commercially profitable is understandable from business point of view, but connectivity being a dual use facility will always be affected by other strategic, diplomatic and security concerns also.
The strict check on financing in view of questionable valuation of currency and anticipated ‘Trade War’ with US, under new administration is on expected lines. The hesitation of some of the financial institutions beyond Beijing’s control is also a factor worth consideration.