What to do if you have a struggling shipbuilder? Get Chinese state money under the Belt and Road Initiative (BRI).
Having rejected a $1bn-plus bailout proposal for Uljanik Group, the Croatian state is so keen to get China Shipbuilding Industry Corp (CSIC) to play white knight that it has started to trumpet its interest in the BRI.
On the Chinese side, the state-owned conglomerate has agreed to send a delegation to Croatia to develop ways of cooperation in vessel design and construction.
