By Dr. James M. Dorsey
From the article:
China, in an implicit recognition that at least some of its Belt and Road-related projects risk trapping target countries in debt or fail to meet their needs, has conceded that adjustments may be necessary.
“It’s normal and understandable that development focus can change at different stages in different countries, especially with changes in government. So China can also make some strategic adjustments when cooperating with these countries, but it’s definitely not a reconsideration of the B&R (Belt and Road) initiative,” Wang Jun, deputy director of the Department of Information at the China Center for International Economic Exchanges told the Chinese Communist Party’s Global Times newspaper.
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Earlier, the Washington-based Center for Global Development warned that “there is…concern that debt problems will create an unfavourable degree of dependency on China as a creditor. Increasing debt, and China’s role in managing bilateral debt problems, has already exacerbated internal and bilateral tensions in some BRI (Belt and Road initiative) countries.”
Read the full article here.