A vote to end austerity in Greece. Plunging oil prices blowing a hole in Mexico’s finances. Shock election results in Sri Lanka. The past few weeks have been marked by global upheaval that is coming home to roost in China.
From ports in Greece to Kenyan highways, China has spent billions of dollars overseas as part of its “go out” policy — winning influence and contracts, alongside resources such as oil.
But as political and fiscal systems unravel, Chinese state-owned companies are discovering the darker side of this policy. As one senior Chinese Communist party official put it, with careful understatement: “These incidents have not been very pleasant.
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