Has China’s Belt and Road Initiative Failed?

Adolf Goebbels
Published on Mar 28, 2023
China’s Belt and Road Initiative may have failed. President Xi Jinping’s BRI was China’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 China’s dreams of global economic dominance on the line, the Belt and Road Initiative is in desperate need of change. Mint’s Shashank Mattoo breaks down the history of the Belt and Road Initiative and Xi Jinping’s sweeping ambitions for the program. He unpacks BRI’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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Category
Communism
Tags
China’s Belt Road Initiative Failed

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