China Breaks India Monopoly on Nepal Economy as Investment Grows – Businessweek

In the dusty outskirts of Kathmandu, south of the Himalayan mountain range that holds the world’s highest peaks, Chinese engineers in orange hard hats oversee construction of Nepal’s first eight-lane highway.

Highway Construction

The $45 million upgrade of a road circling the Nepalese capital is one of dozens of projects helping China challenge India’s dominance in a country that is sandwiched between them. Until recently, the Himalayas served as a natural barrier that prompted Nepal to trade more across its flat border with India.

“China is growing in importance,” Ram Sharan Mahat, Nepal’s Finance Minister, said in a Dec. 4 interview in Kathmandu. “Because of new trade horizons and the cheap pricing of Chinese goods, Chinese trade vis-a-vis Nepal is growing.”

via China Breaks India Monopoly on Nepal Economy as Investment Grows – Businessweek.

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