Italy is set the become the first G-7 country to join China’s controversial Belt and Road Initiative that comprises numerous large infrastructure projects aimed at uniting East and West, although many Western countries mostly see it as a way for China to increase its geopolitical power across the globe. Even
Malaysia has cancelled a contact with major Chinese contractor CCCC for the building of a 688km rail project, citing an unaffordable interest rate. Some, including the country’s Prime Minister had noted the undesirable elements of the project, including its funding through a Chinese loan to pay a Chinese contractor using
China’s imports and exports in BRI countries has surpassed $860 billion USD in the first three quarters, up 13.2% from the previous year. Exports to these countries is up 7.7% compared to the previous year, while imports are up 20.9%. Non-financial direct investment in these three quarters stands at nearly
The EU is not a political entity known for reaching consensus with speed. Its fears over security-related foreign investments, specifically from China, however, have activated debates and movements towards stringent policies. “We are not naive free traders,” stated EU President Jean-Claude Juncker. “Europe must always defend its strategic interests. This
The largest state-owned corporation working on China’s Belt and Road Initiatives has been beset by growing numbers of allegations across its 700+ open projects of fraud, environmental damage, and corruption across Africa, Asia, and even North America. The company was blacklisted by the World Bank in 2009 for fraudulent bidding
“It has been described as China’s ‘Private Army.’ Fueled by growing demand from domestic companies involved in the multi-trillion-dollar Belt and Road Initiative, independent security groups are expanding in the country. In 2013, there were 4,000-registered firms, employing more than 4.3 million personnel. By 2017, the figure had jumped to
Experts have begun to connect Chinese cyber campaign patterns with its Belt and Road Initiative projects. “If you take that map of the Belt and Road effort you will also find a pattern of cyber operations,” said one former NSA director. “Regional governments along these [Belt and Road] trade routes
“It was always going to be about the numbers. In the first half of 2018, China’s foreign direct investment in the Belt and Road Initiative dropped 15% compared to the same period last year. Spending edged down to US$7.68 billion, which was 12.3% of total FDI from January to June,
Chinese media has reported that Senegal is the first West African country to sign a Belt and Road cooperation agreement with China. China has already funded a series of infrastructure projects in Senegal. The announcement comes during Chinese President Xi’s highly publicized tour in Africa, his fourth while in office.
Embedded within China’s massive state-owned enterprise sector are thousands of “zombie” companies that do not produce enough revenue to pay debts, and are kept afloat by state funding. These companies have driven China’s growing corporate debt problem and the issue has been aggravated by China’s titanic Belt and Road Initiative.