When CEFC China Energy, a Chinese conglomerate with big ambitions and apparently bottomless pockets, began pouring money into the Czech Republic in 2015, the country’s president was delighted.
Milos Zeman, an enthusiastic supporter of regimes with more cash than accountability, hailed CEFC’s $1.5 billion Czech spending spree – which included a brewery and a football club, as well as stakes in real estate, media and finance firms – as the dawn of a new era for central Europe.
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