Our guide was speeding us to the modern new airport in Siem Reap, Cambodia, along a modern new expressway. “China built this,” the guide told us. “The airport, too.” His smile was rueful. “China gets most of the money for a long time.” Siem Reap–Angkor International Airport opened two years ago after China spent $1.1 billion to construct it under its global Belt and Road Initiative. On a recent vacation trip to Southeast Asia, my wife, Karla, and I heard a similar ambivalence about massive new China-financed developments in Phnom Penh, Ho Chi Minh City, and other cities. We don’t trust China, the Vietnamese and Cambodians told us. We know they want control. But we need development, and U.S. investment is limited. During our trip, President Trump threatened Cambodia…