South China Sea fears linger despite Beijing’s loan and aid pledges at East Asia Summit
China pledges aid and finance for region but concerns over disputed waterways persist
China used both carrots and sticks at a regional summit over the weekend, promising US$10 billion in loans for infrastructure in Southeast Asia while maintaining that work on its South China Sea reclamation projects would continue.
The sweeteners, however, failed to erase concerns over escalating tensions in the busy waterways at the weekend summit between the Association of Southeast Asian Nations and eight other countries.
Wrapping up the East Asia Summit, Malaysian Prime Minister Najib Razak said several countries raised concerns about land reclamation. “There were great concerns expressed by certain countries in respect to what has been done,” he said. A summit joint statement had not been released as of 11pm on Sunday.
There were great concerns expressed by certain countries in respect to what has been done
On top of the infrastructure loans, Beijing would give US$560 million in aid to underdeveloped Asean states next year, Vice Foreign Minister Liu Zhenmin said on Sunday.
Beijing has boosted economic cooperation in the region to try to repair ties frayed by the South China Sea disputes, which pit China against claimants such as the Philippines and Vietnam.
