One Belt, One Road’ has long been little more than a nice slogan, the catch-all for a plethora of potential deals and projects. But three years after the slogan gained prominence, the deals are starting to come.
Shanghai Electric Power, one of the top five state-owned electricity producers in China, announced on Sunday that it would buy 66.4% of Pakistan’s K-Electric for $1.77 billion.
The deal is a classic Belt and Road transaction, mixing economic sense with geopolitical savvy. China has been taking on a more prominent role in Pakistan, with the establishment of the China-Pakistan Economic Corridor last year. It looks set to take...
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