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Authored by Daniel Holl via The Epoch Times,
China ’s Belt and Road Initiative (BRI) is facing growing opposition from participating countries as their debts associated with Chinese projects mount, according to a recent study. Launched in 2013 by Chinese leader Xi Jinping, the BRI might be losing its impetus due to a debt -based backlash, according to a study from AidData, a research lab at William & Mary’s Global Research Institute .
The study analyzed 13,427 projects backed by China in more than 165 countries over 18 years. The projects’ total value amounts to $843 billion.
AidData found that 35 percent of BRI’s projects dealt with implementation problems, “such as corruption scandals, labor violations, environmental hazards, and public protests.”
Brad Parks, one of the study’s authors, said “a growing number of policymakers in low- and middle-income countries are mothballing high profile BRI projects because of overpricing, corruption and debt sustainability concerns.” Global Expansion
The BRI—which serves as a tool for the Chinese Communist Party’s (CCP) global expansion—finances enormous loans to developing nations for building infrastructure.
The ostentatious projects have been described as being a part of so-called debt-trap diplomacy since the often unpayable loans will force the nations to repay China with goods or land.
Chinese state-owned banks provide the countries with loans they can barely afford. The loans are then used to pay Chinese companies in order to build infrastructure, including the development of roads, ports, power plants, mines, telecommunications, or banking institutions.
When the nations are unable to pay, they must grant China assets like long-term exploitation rights for natural resources, or leases of infrastructure built using the loans. A Chinese worker carrying materials for a project that is part of China’s Belt and Road Initiative in Laos, on Feb. 8, 2020 (Aidan Jones/AFP via Getty Images) According to AidData’s report, 42 low- and middle-income countries have public debt exposure to China that exceeds 10 percent of its gross domestic product (GDP). “China has used debt rather than aid to establish a dominant position in the international development finance market,” the report said. The report said that researchers estimated that a […]
Too Few Are Telling the Truth
Not long ago, conservative media was not beholden to anyone. Today, most sites are stuck on the Big Tech gravy train.
I’ll keep this short. The rise of Pandemic Panic Theater, massive voter fraud, and other “taboo” topics have neutered a majority of conservative news sites. You’ll notice they are very careful about what topics they tackle. Sure, they’ll attack Critical Race Theory, Antifa, and the Biden-Harris regime, but you won’t see them going after George Soros, Bill Gates, the World Economic Forum, or the Deep State, among others.
The reason is simple. They are beholden to Big Tech, and Big Tech doesn’t allow certain topics to be discussed or they’ll cut you off. Far too many conservative news outlets rely on Google, Facebook, and Twitter for the bulk of their traffic. They depend on big checks from Google ads to keep the sites running. I don’t necessarily hold it against them. We all do what we need to do to survive. I just wish more would do like we have, which is to cut out Big Tech altogether.
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