Why Belt and Road Initiative is anything but debt trap
5 years, 8 months ago

Why Belt and Road Initiative is anything but debt trap

China Daily  

NAIROBI, April 13 — Almost six years after President Xi Jinping proposed the Belt and Road Initiative, the grand vision for promoting common development through better connectivity among countries and regions has been morphing into a solution for speeding up global cooperation for greater prosperity. "Accusation by some Western countries of China letting some countries fall into a debt trap due to their cooperation on the Belt and Road Initiative is a matter of perception," he added. Noting that blaming China for the BRI is unfair, Gabagambi said: "In my opinion, Western countries are envious of Chinese success in transforming the economies of developing countries in a big way that they and their Bretton Woods institutions have failed to achieve for decades." Zambia-based economist Kampamba Shula said China was not trying to dupe participating countries into a debt trap because China does not force itself on any country. "To insinuate that African countries were being duped into a debt trap is not to be taken seriously," he said.

Italy China Africa Loans Debt Cooperation Developing Countries Kenya Countries Road Chinese Bri Tanzania Trap Belt Zambia Some Countries Road Initiative Western Countries Debt Trap Gabagambi  bri  belt  debt  cooperation  initiative  road  loans  trap  africa  countries  china

History of this topic

Forum on China-Africa Cooperation 2024: Don’t Be Distracted by the Money
2 months, 3 weeks ago

Forum on China-Africa Cooperation 2024: Don’t Be Distracted by the Money

The Diplomat  

In early September, during the ninth Forum on China-Africa Cooperation summit held in Beijing, China’s promise to give $50.7 billion of financial support to African countries over the next three years dominated international headlines. In the Beijing Action Plan, the most important publication from the summit, China pledged to “provide Africa with RMB 360 billion of financial support in the …

On the rails
4 months, 2 weeks ago

On the rails

China Daily  

Ethnic groups celebrate the departure of the second international passenger train in Xishuangbanna, Yunnan province, on April 13. Provided to CHINA DAILY Piti Srisangnam from Thailand's Chulalongkorn University told media that the China-Laos Railway is far more profitable than to be categorized as a "debt trap", given that freight volume — the railway's main revenue source — in 2023 doubled …

'Debt-trap diplomacy' a fabricated myth
6 months, 4 weeks ago

'Debt-trap diplomacy' a fabricated myth

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. Editor's note: A recent editorial article on Guyana Times analyzed how the "Chinese debt-trap diplomacy" myth was created and twisted as the United States targeting at China. This is a term to describe an international financial relationship where a creditor country or institution extends debt …

'Debt-trap diplomacy' a fabricated myth
6 months, 4 weeks ago

'Debt-trap diplomacy' a fabricated myth

China Daily  

Chinese 100 yuan banknotes are seen in a counting machine at a bank in Beijing. Editor's note: A recent editorial article on Guyana Times analyzed how the "Chinese debt-trap diplomacy" myth was created and twisted as the United States targeting at China. This is a term to describe an international financial relationship where a creditor country or institution extends debt …

Analysts hit out at the use of smear tactics and fake news by Western nations
1 year ago

Analysts hit out at the use of smear tactics and fake news by Western nations

China Daily  

Analysts have condemned attempts to smear and spread fake news about the Belt and Road Initiative, or BRI, which they said has brought great benefits to the world. Some Western politicians, scholars and media outlets have even spread false information about China's alleged neocolonialism, debt traps, resource exploitation, and environmental harm, the analysts said. Referring to frequent accusations by some …

Money Morass: Desperate China to refocus on stressed BRI borrowers, hanging projects
1 year, 2 months ago

Money Morass: Desperate China to refocus on stressed BRI borrowers, hanging projects

Firstpost  

China has pumped billions of dollars in grants and loans into developing countries over the last ten years. Called “One Belt, One Road” in Chinese, the Belt and Road Initiative started as a program for Chinese companies to build transportation, energy and other infrastructure overseas funded by Chinese development bank loans. China has granted about $1 trillion in loans to …

The BRI at 10, some hits, many misses
1 year, 2 months ago

The BRI at 10, some hits, many misses

The Hindu  

The Third Belt and Road Forum for International Cooperation that was convened in Beijing, China has put the spotlight back on Chinese President Xi Jinping’s signature initiative. Academic Xue Li likened the BRI to China’s Marshall Plan, stating that it was a gateway for China to transition from a regional power with global influence to a global power with comprehensive …

'BRI Loans Neither Windfall Nor Alms-Giving': Chinese President Xi Amid Criticism Of Its Flagship Project
1 year, 2 months ago

'BRI Loans Neither Windfall Nor Alms-Giving': Chinese President Xi Amid Criticism Of Its Flagship Project

ABP News  

New Delhi: Amid criticism that China's mega projects turned out to be debt traps for smaller nations, President Xi Jinping on Tuesday saluted the countries that signed up for its flagship project Belt and Road Initiative. Addressing his welcome banquet for guests attending the third Belt and Road Forum for International Cooperation, he said that the loans provided by Beijing …

How China’s Belt and Road Initiative is changing after a decade of big projects and big debts
1 year, 2 months ago

How China’s Belt and Road Initiative is changing after a decade of big projects and big debts

Associated Press  

BEIJING — China’s Belt and Road Initiative looks to become smaller and greener after a decade of big projects that boosted trade but left big debts and raised environmental concerns. Called “One Belt, One Road” in Chinese, the Belt and Road Initiative started as a program for Chinese companies to build transportation, energy and other infrastructure overseas funded by Chinese …

Belt and Road Initiative | Silk Roads at a crossroads
1 year, 2 months ago

Belt and Road Initiative | Silk Roads at a crossroads

The Hindu  

On October 17, Chinese President Xi Jinping will host more than a dozen world leaders in Beijing, including Russian President Vladimir Putin, for the third Belt and Road Forum, which will mark the 10 year anniversary of the Belt and Road Initiative. zero tolerance for corruption, and promotes steady and high-quality growth.” The BRI was launched by Mr. Xi in …

Experts' take on Belt and Road Initiative
1 year, 3 months ago

Experts' take on Belt and Road Initiative

China Daily  

Only BRI truly meets infrastructure needs The 10th anniversary of the Belt and Road Initiative marks its coming of age amid rising geopolitical tensions. As the Belt and Road Initiative makes new inroads in Latin America, once dubbed the "backyard of the US", the post-pandemic Southeast Asia is now on the threshold of economic recovery with an escalating demand for …

A Decade Down the Belt and Road
1 year, 3 months ago

A Decade Down the Belt and Road

The Diplomat  

When President Xi Jinping launched the Belt and Road Initiative in September 2013, he signaled the dawn of a new era in how China engaged with the world. At home, the BRI must jockey for position in view of other leadership priorities – namely the launch of the more development-centered Global Development Initiative and China’s slowing domestic economy. The first …

10 years of China's Belt & Road project: South Asia barring India & Bhutan, in a bind over Beijing’s predatory tactics
1 year, 5 months ago

10 years of China's Belt & Road project: South Asia barring India & Bhutan, in a bind over Beijing’s predatory tactics

Firstpost  

Except for India and Bhutan, all South Asian countries are part of the BRI. Despite this, a closer look at their economic conditions shows that China’s BRI promises haven’t been fulfilled since the project started a decade ago. This year marks the tenth anniversary of China’s ambitious Belt and Road Initiative, a $1.4 trillion project initiated by Xi Jinping with …

BRI a tool for development, not debt traps
1 year, 6 months ago

BRI a tool for development, not debt traps

China Daily  

The claims that the Belt and Road Initiative has been used as a tool to create debt traps for receptive countries are completely wrong, said Jin Keyu, associate professor of economics at the London School of Economics and Political Science. "The majority of debt in emerging markets is owed to Western institutions, multilateral institutions and financial institutions, including private creditors …

China is pushing poor nations like Pakistan into its debt trap, one at a time
1 year, 7 months ago

China is pushing poor nations like Pakistan into its debt trap, one at a time

Op India  

The People’s Republic of China has been pushing poor countries to the brink of economic ruin through its well-thought-out ‘debt trap’ and its unforgiving nature when it comes to the recovery of loans. An AP analysis found that countries heavily indebted to China are draining foreign currency reserves used to pay interest on loans, leaving some with just months before …

Debt trap smears smack of imperialist intent to keep poorer countries poor: China Daily editorial
2 years, 4 months ago

Debt trap smears smack of imperialist intent to keep poorer countries poor: China Daily editorial

China Daily  

An American flag flies outside of the US Capitol dome in Washington, US, Jan 15, 2020. They claim that China is forcing poorer countries into debt traps, by convincing them into taking on loans for infrastructure projects that they can't afford and that offer few benefits, so that Beijing eventually takes control of these assets when the countries can't repay …

Facts derail Africa 'debt trap' smears
2 years, 5 months ago

Facts derail Africa 'debt trap' smears

China Daily  

Photo taken on Dec 7, 2021, shows a section of the 27.1-km Nairobi Expressway which is being constructed by the China Road and Bridge Corporation in Nairobi, Kenya. Talk of a so-called Chinese "debt trap" burdening African countries is pure disinformation and, contrary to what those behind the smears say, China has always been dedicated to easing Africa's debt pressures, …

China's debt trap: BRI countries owe China close to 385 billion USD in hidden debt, reveals report
3 years, 3 months ago

China's debt trap: BRI countries owe China close to 385 billion USD in hidden debt, reveals report

Op India  

China has long been known for using its financial clout to further “debt-trap diplomacy”, a policy that encompasses saddling borrowing nations with excessive credit with the intention of extracting economic or political concessions from the debtor country when it finds it increasingly difficult to meet its debt repayment obligations. Now, a report published by AidData says China’s Belt and Road …

China’s growing threat via debt trap diplomacy
4 years, 6 months ago

China’s growing threat via debt trap diplomacy

Live Mint  

China has been using the financial tool of debt to gain influence across the world and grab considerable power in India’s neighbouring countries, thereby increasing the amount of political and security threats the nation is exposed to. In a push to gain rapid political and economic ascendency across the globe, China is dispensing billions of dollars in the form of …

China suggests shift in BRI approach amid debt concerns
4 years, 7 months ago

China suggests shift in BRI approach amid debt concerns

The Hindu  

China has hinted at a shift in how it will pursue its signature Belt and Road Initiative amid growing concerns about debt repayments from many partner countries because of the coronavirus pandemic. The report this year said China would focus on “achieving shared growth through consultation and collaboration” and would “work with BRI partners for mutually beneficial outcomes”. “As always, …

Belt and roadblocks
5 years, 4 months ago

Belt and roadblocks

The Hindu  

China’s raging trade war with the U.S., mounting criticism of its Belt and Road Initiative, and growing schism in its Politburo on handling these issues has compelled the Chinese leadership to review the ininitiative. In 2009, former Deputy Director of China’s State Administration of Taxation, Xu Shanda, came up with a proposal called the Chinese Marshall Plan which suggested that …

US studies say BRI not a debt trap
5 years, 7 months ago

US studies say BRI not a debt trap

China Daily  

By Chen Weihua | China Daily Global | Updated: 2019-05-13 09:58 Two studies released in the past weeks should put to rest the blind accusation that China's infrastructure financing under the Belt and Road Initiative has sucked developing nations into a debt trap. Brautigam's opinion piece was based on studies conducted by her China-Africa Research Initiative at the SAIS, which …

US studies say BRI not a debt trap
5 years, 7 months ago

US studies say BRI not a debt trap

China Daily  

Two studies released in the past weeks should put to rest the blind accusation that China's infrastructure financing under the Belt and Road Initiative has sucked developing nations into a debt trap. Deborah Brautigam, a leading authority on China-Africa relations at Johns Hopkins University's School of Advanced International Studies in Washington, dismissed such accusations in an opinion piece in The …

Who will benefit from China’s Belt and Road Initiative?
5 years, 8 months ago

Who will benefit from China’s Belt and Road Initiative?

Al Jazeera  

As President Xi allays debt concerns, analysts say the project’s success requires foresight and honesty from all sides. Beyond the hundreds of meetings and the agreements signed, photo-ops with three dozen heads of state, and promises of both private and public investment into infrastructure and trade, Xi took pains to underscore China’s good intentions and commitment to transparency and building …

China says Belt and Road Initiative has entered a new era of transparency
5 years, 8 months ago

China says Belt and Road Initiative has entered a new era of transparency

The Hindu  

China on Friday announced that the financial model for funding projects under its flagship Belt and Road Initiative had been revamped, countering criticism that its mega-connectivity undertaking was opening “debt traps” for enhancing its geopolitical influence. “We have also formulated guiding principles of financing the development of the Belt and Road and published debt sustainability framework for participating countries to …

China’s Xi pledges to ‘fight corruption’ at Belt and Road summit
5 years, 8 months ago

China’s Xi pledges to ‘fight corruption’ at Belt and Road summit

Al Jazeera  

President Xi Jinping laid out China’s aspirations for its Belt and Road Initiative that spans the globe. China‘s Belt and Road Initiative will focus on transparency and clean governance, President Xi Jinping said at the opening of a summit on his grand plan on Friday, adding that the massive infrastructure and trade plan should result in “high-quality” growth for everyone. …

China's new Silk Road: how the Belt and Road Initiative may force a binary choice between Washington and Beijing
5 years, 8 months ago

China's new Silk Road: how the Belt and Road Initiative may force a binary choice between Washington and Beijing

The Telegraph  

Just as the controversy about the UK employing Huawei's technology to build it's 5G technology was heating up at Westminster and incurring the wrath of the US, the Chancellor, Philip Hammond, was flying out to Beijing to salute a "golden era of relations between China and the UK". China is playing host to global leaders, selling a message of international …

Why Belt and Road Initiative is anything but debt trap
5 years, 8 months ago

Why Belt and Road Initiative is anything but debt trap

China Daily  

NAIROBI, April 13 — Almost six years after President Xi Jinping proposed the Belt and Road Initiative, the grand vision for promoting common development through better connectivity among countries and regions has been morphing into a solution for speeding up global cooperation for greater prosperity. "Accusation by some Western countries of China letting some countries fall into a debt trap …

Belt and Road Initiative fulfills developing nations investments needs, govt says
5 years, 10 months ago

Belt and Road Initiative fulfills developing nations investments needs, govt says

China Daily  

Vice-Minister of Commerce Qian Keming attends a press conference on China's domestic market and all-round opening-up for the second session of the 13th National People's Congress in Beijing, March 9, 2019. Developing countries are in need of investment, and in the past five years through Belt and Road Initiative, China has helped many developing economies in infrastructure construction and production …

Why China’s BRI has run into roadblocks
6 years ago

Why China’s BRI has run into roadblocks

Live Mint  

New Delhi: When China initiated its ambitious ‘Belt and Road Initiative’ to boost infrastructure and connectivity globally, India was one of the few countries that refused to take part in it. As the majority of the loans come from Chinese institutions that are basically state entities, China gains immense leverage over the recipient countries. In addition, China’s policy to send …

The debt-trap diplomacy of China with Pakistan through Belt and Road initiative takes a military turn
6 years ago

The debt-trap diplomacy of China with Pakistan through Belt and Road initiative takes a military turn

Op India  

According to a report by the New York Times, the economic corridor between China and Pakistan is turning into more of a military corridor, as both countries are jointly preparing aircraft and weapons in a confidential manner. This way, according to Ney York Times Report, China is also transforming Pakistan into a military showcase to woo other Muslim countries into …

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