20240612 Xi Jinping and Forest City

The excitement of Xi Jinping's Belt and Road, announced in 2013, convinced a developer to build an island and city off the coast of Malaysia. Now China's property sector woes have left investors in unbearable financial straits. (Nikkei montage/Source photos by Yusuke Hinata and Reuters)

Analysis: Xi Jinping's Belt and Road leaves Malaysia with a 'ghost' island

Forest City project in Johor remains in limbo as Beijing prepares for key meeting

Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

Tanjung Piai is a cape at the tip of the Malay Peninsula, the southernmost point of Eurasia and a destination for wealthy Chinese "shoppers."

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