By Sarah Lain
An edited version of this article appeared in China Daily Europe, May 12 2017
At a time when the US is reducing its international development contributions, China has pledged additional billions to its multi-national Belt and Road Initiative (BRI). At the recent Belt and Road summit this included adding RMB 100 billion to the Silk Road Fund, as well as creating a China-Russia Regional Cooperation Development Investment Fund. However, some countries, such as those from the EU attending the summit, continue to have concerns over the way in which the project will be implemented.
One of the key concerns for many Belt and Road countries is the lack of detail around the feasibility and planning behind some of the projects the Belt and Road Initiative (BRI) is promoting. Some subsequently wonder whether the BRI could in fact create new risks for certain countries along the BRI. Beijing still need to explain how it assesses and mitigates the various risks prior to investing to ensure the sustainability of the foreign policy vision. This will help add reassurance to the ‘win-win’ rhetoric behind the BRI. Continue reading