The Belt and Road Initiative (BRI), launched by Xi Jinping, passed its tenth anniversary in 2023. It has entered a third phase.
The initiative added a label to China’s financing and construction of infrastructure abroad, which had already totaled more than $400 billion in the previous 10 years. In addition to the use of investment projects as part of Chinese ‘soft power’, the BRI has served to increase levels of usage of the country’s excess installed capacity.
China’s economic re ...