Finance and Foreign Policy Mix When China and Japan Lock Horns WSJ


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The development of transport infrastructure in Vietnam’s two biggest cities may not seem like an issue of geopolitical importance. But beneath the ground in Ho Chi Minh City and Hanoi, a tussle over influence in Asia has played out in recent years. The two cities’ subway systems—both subject to yearslong delays—are being built by Japanese and Chinese firms respectively, and are a visible symbol of how the contest for influence between Tokyo and Beijing meets the reality of two nations with large savings and a drive to invest...