Over the past 10 years, China has loaned billions of dollars to poor countries as part of its Belt and Road Initiative (BRI). As the COVID-19 outbreak has shut down economies, these nations are finding it increasingly difficult to repay their loans. Caught in debt from Chinese loans Chinese loans granted to developing countries tend ...
With Italian Prime Minister Giuseppe Conte suggesting that his country might soon be a part of China’s Belt and Road Initiative (BRI), the U.S. has asked Italy to refrain from such commitments with Beijing. Opposition parties are also said to be quite disturbed by the government’s decision. Italy and BRI “Italy is a major global economy and ...
Malaysia is the latest country to take a stand against Beijing’s “debt colonialism,” and has canceled a few OBOR projects out of fear of owing too much money to China. China’s One Belt, One Road (OBOR) project has been touted by Beijing as being one of the greatest global infrastructure projects ever, and it was ...
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