The G7 Struggles to Present a Credible Alternative to China's Belt and Road | Opinion

In the wake of the 2008 global financial crisis, China had to find ways to deploy its massive foreign reserves and industrial and construction overcapacity. That led to the creation of the Belt and Road Initiative (BRI), a multi-trillion-dollar global infrastructure financing program that enabled China to extend dollar-denominated infrastructure loans to developing countries and tie those deals to Chinese exports of steel and cement.