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That’s where the most ambitious of all of Beijing’s regional infrastructure projects—the controversial Belt and Road Initiative—comes in: a long-mooted canal across southern Thailand’s Kra Isthmus, the narrowest point of the Malay peninsula, which would open a second sea route from China to the Indian Ocean. This could allow the Chinese navy to quickly move ships between its newly constructed bases in the South China Sea and the Indian Ocean without diverting more than 700 miles south to round the tip of Malaysia. That would make the Thai canal a crucial strategic asset for China—and a potential noose around Thailand’s narrow southern neck. If Thailand allows China to invest up to $30 billion in digging the canal, it may find that the associated strings are attached forever.