The Global Reach of China's Belt and Road

Today, China began hosting its third Belt and Road Initiative Forum. The signature policy of Chinese President Xi Jinping, the Belt and Road Initiative (BRI) has now been active for ten years and has led to China engaging in $1.01 trillion worth of investment and construction in 148 countries around the world. In a report published this month by Boston University however, "accentuated debt distress" can be evidenced in many of the recipients of Chinese finance, "with several countries owing China a significant share of their external debt."

Representatives from 130 countries will be present at this year's forum. Among the attendees is Russian President Vladimir Putin, in China for the first time since his visit shortly before the start of the war in Ukraine.

Data from the Green Finance & Development Center shows that BRI investment in the first half of 2023 has centered largely on countries in East Asia and South America (43.9 percent). When it comes to construction projects, partly financed by Chinese loans, these have focused chiefly on Sub-Saharan Africa and the Arab Middle East and North Africa (combined 69.9 percent).