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China's Belt and Road Initiative, a 10-year-old global trade project, facing financial challenges and concerns about repayments. Examining the impact of China's investments in Kenya, Africa, and Sri Lanka. Discussing the benefits and challenges of the initiative, including global connectivity and infrastructure deficit. Exploring different viewpoints on the initiative and upcoming forum hosted by Chinese President Xi Jinping.
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- The Belt and Road Initiative aimed to enhance China's soft power through infrastructure development and investments abroad, but it has faced criticism for issues such as transparency, environmental concerns, and local labor displacement.
- Despite rapid growth and investment, countries involved in the Belt and Road Initiative have faced economic difficulties and debt distress, raising concerns about excessive lending and debt sustainability.
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The Launch of Belt and Road Initiative
The Belt and Road Initiative was launched by Chinese President Xi Jinping in 2013 as a way to connect China to Western markets and revitalize ancient trade routes. The initiative aimed to enhance China's soft power through infrastructure development and investments abroad. It led to a significant increase in mega infrastructure projects financed by China, reaching an average of $85 billion per year.
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