>Most of the high profile failures with foreign investment stem from corruption and incompetence. Switching from debt to equity won't cure that. It could chang

>Most of the high profile failures with foreign investment stem from corruption and incompetence. Switching from debt to equity won't cure that. It could change who gets left holding the bag, though. Presumably if Chinese firms held equity in the hydroelectric plants, they would care about whether they were built correctly and won't collapse. As it stands they get paid either way (according to the article).