Has Chinaâ€™s Belt and Road Initiative Failed?

Adolf Goebbels
Published on Mar 28, 2023
Chinaâ€™s Belt and Road Initiative may have failed. President Xi Jinpingâ€™s BRI was Chinaâ€™s flagship trillion dollar plan to dominate the world economy. A decade later, China has lost millions while its partners in developing countries have racked up billions in debts. China and the Chinese Communist Party have been accused of underwriting corruption and practising debt trap diplomacy in developing economies. With its reputation and Chinaâ€™s dreams of global economic dominance on the line, the Belt and Road Initiative is in desperate need of change. Mintâ€™s Shashank Mattoo breaks down the history of the Belt and Road Initiative and Xi Jinpingâ€™s sweeping ambitions for the program. He unpacks BRIâ€™s failures in countries like Sri Lanka, Pakistan and Kenya among others. In the process, we get a glimpse into the incompetence, corruption and ambition that doomed the Belt and Road Initiative.

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