China’s empire of debt: The Belt and Road Initiative

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The People’s Republic of China advertises its political and economic systems as ‘socialism with Chinese characteristics’. Across the world, the business of borrowing and lending, and a great deal of construction, have assumed Chinese characteristics of their own. Completing the Belt and Road Initiative (BRI) has been part of the constitution of the governing Chinese Communist Party since 2017. It is the signature economic idea of president Xi Jinping. BRI aims to reshape the global economy and create in its new image a Chinese-led world order. BRI was long treated almost fancifully in the West…

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