BANGKOK -- In its rush to become the "battery" of Southeast Asia, Laos is accepting more Chinese loans to build dams, ensuring the already debt-strapped country falls ever deeper into China's pocket.
The landlocked country's latest dam project is the groundwork for the $2.1 billion Pak Lay hydropower scheme on the Mekong. It is being built by state-owned Power China Resources, a leader in dam construction, and financed with a $1.7 billion loan from China's Export-Import Bank.
