How China’s BRI Infected The Global Economy With Unpayable Debt

What happens when a country with one of the most problematic economies in the world decides to extend its influence using this very economic development incompetence? Global disaster, mostly. That is what has happened with China’s <a href="https://www.foreignaffairs.com/china/belt-road-initiative-xi-imf?utm_medium=newsletters&utm_source=fatoday&utm_campaign=China%E2%80%99s+Road+to+Ruin&utm_content=20230828&utm_term=FA+Today+-+112017" rel="noopener ugc nofollow" target="_blank">Belt and Road Initiative</a>, the largest and most ambitious extension of national presence through infrastructure development in human history. China has lent more than $1 trillion to more than 100 countries through the scheme, dwarfing Western spending in the developing world. But China is applying the same genius that it is using to wreck its own economy, to the economies of developing countries. And in doing so, China has become very disliked. Before doing the world tour of Belt and Road Initiative (BRI) projects, let’s take a hard look at the nest it came from: what is happening in China today. Companies are overwhelmingly reducing their exposure in China. They are “reglobalizing” outside China. No one country is replacing China, but operations are spreading to Vietnam, Indonesia, Sri Lanka, India and elsewhere. The outside world underestimates how badly the Chinese economy is deteriorating, although articles are now catching up. The global perception of China has become more negative. The Chinese are closing down firms that could have provided due diligence on Chinese claims, like restrictions on access to <a href="https://www.reuters.com/world/china/chinese-data-provider-tightens-some-information-access-offshore-users-sources-2023-05-03/" rel="noopener ugc nofollow" target="_blank">Wind</a>, a Chinese data provider. <a href="https://barry-gander.medium.com/how-chinas-bri-infected-the-global-economy-with-unpayable-debt-5b119744d6a0">Read More</a>