The Belt and Road Initiative (BRI) announced in 2013 by President Xi Jinping has been widely acclaimed. However, in some quarters the support has been tempered by worries as to China’s underlying geostrategic ambitions, uncertainty regarding longerterm economic benefits, and a concern that BRI would burden participating countries with debt. Five years later with many billions of dollars committed, the initial euphoria has partially dissipated. Several participating countries are taking a closer look at the potential gains from BRI projects and weighing them against the financial, political, and social costs that are becoming more apparent.
Chief Economist, The Growth Dialogue, George Washington University School of Business. Send comments
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