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China Burdening Central Asia With Sinister Debt Trap

Image by Yauaaisnhaongwaix
Shenzhen City Planning Exhibition Hall world map one belt band one road Jan 2017

China’s massive and expanding “Belt and Road” trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt.

First announced in 2013 by President Xi Jinping, the initiative also known as the “new Silk Road” envisions the construction of railways, roads and ports across the globe, with Beijing providing billions of dollars in loans to many countries.

China’s Belt And Road Project Destroying Emerging Market National Solvency

Five years on, Xi has found himself defending his treasured idea as concerns grow that China is setting up debt traps in countries which may lack the means to pay back the Asian giant…

To read more visit AFP.

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