CGD in the News

China's 'Silk Road' project runs into debt jam (AFP)

September 05, 2018

From the article: 

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. 

... 

The huge endeavour brings much-needed infrastructure improvements to developing countries, while giving China destinations to unload its industrial overcapacity and facilities to stock up on raw materials.

But a study by the Center for Global Development, a US think-tank, found "serious concerns" about the sustainability of the sovereign debt in eight countries receiving Silk Road funds.

Read the full article here.