China’s overall activity in BRI countries is down about 40 per cent from its 2018 peak. Read more at straitstimes.com.
Copies of “Xi Jinping: The Governance of China” in Arabic and Spanish being displayed outside the media centre in Beijing on Oct 16.
The US has assessed that the BRI is in deep trouble, according to a senior American official who asked not to be identified to discuss private conversations. Beijing has less capital to lend and pressure is growing to recoup the outstanding money it loaned, the official said. Zambia was the first African country to default during the pandemic in late 2020. It put China, the nation’s largest creditor, in the spotlight.
The average BRI investment deal decreased by 48 per cent from the 2018 peak to about US$392 million in the first half of 2023, according to the Fudan report. The report tracks both the value of construction projects that are funded by China as well as those that Chinese companies have equity stakes in.
The strategy’s geographical focus has also evolved in step with Mr Xi’s foreign policy. Saudi Arabia was one of the top three recipients of BRI lending in 2023, according to the Fudan study, as the Chinese leader seeks to expand his influence in the Middle East.
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