China's belt and road initiative was launched in two thousand 13. It financed hundreds of inter structure projects in dozens of developing countries. At one point, the country was investing or lending up to ane hundred and 50 billion dollars a year. A lot of those projects started to run into trouble a few years back. Recipient countries started to have problems paying back the loans.
After a five-month hiatus, violence has returned to the northern region of Tigray—but that is just one of the conflicts threatening to pull the country to pieces. China’s Belt and Road Initiative has made it a prominent developing-world lender. How will it deal with so many of its loans souring? And our obituaries editor reflects on Issey Miyake’s fashion-for-the-masses philosophy.
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