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Economy

China, The Silent Conductor In Latin America's Big Rail Projects

China's global investment tentacles have reached South American railways, where Chinese firms are "silent" partners in expanding rail networks, through financing or sale of rolling stock.

Photo of a train car lifted by a crane

Workers in China load a metro train car that is to be shipped to Brazil

Gwendolyn Ledger

SANTIAGO — From public mistrust of its goals to suspicions of its ties to corruption rackets, Chinese investment in Latin America's railway sector has gotten off to a shaky start. Over the past decade, the Asian superpower may have suffered from its unfamiliarity with regional and domestic policies, but it's going full steam ahead on investment in an industry where there is much to gain, but also much to risk.

Francisco Urdinez, a politics professor at the Catholic University of Chile, cites the aborted Mexico City to Querétaro railway project as a cautionary tale: The deal was canceled for corruption, and public opinion singled out the Chinese firm in the scandal, even though it was part of a multi-company consortium.

"I think the reputational harm ends up being greater than the project's potential benefits," says Urdinez. "Chinese firms have more to lose than win out of uncertainties around the risks of domestic corruption here in Latin America."

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food / travel

Denied The Nile: Aboard Cairo's Historic Houseboats Facing Destruction

Despite opposition, authorities are proceeding with the eviction of residents of traditional houseboats docked along the Nile in Egypt's capital, as the government aims to "renovate" the area – and increase its economic value.

Houseboats on the Nile in Zamalek, Cairo

Ahmed Medhat and Rana Mamdouh

With an eye on increasing the profitability of the Nile's traffic and utilities, the Egyptian government has begun to forcibly evict residents and owners of houseboats docking along the banks of the river, in the Kit Kat area of Giza, part of the Greater Cairo metropolis.

The evictions come following an Irrigation Ministry decision, earlier this month, to remove the homes that have long docked along the river.

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