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China's Belt and Roller Coaster

Xi risks losing control of Beijing's sprawling strategic investment drive

| China
Sri Lanka has handed over control of Hambantota port to China to clear debt -- raising fears about sovereignty. (Photo by Marwaan Macan-Markar)

Five years ago, President Xi Jinping unveiled the Belt and Road Initiative, a vast investment scheme cloaked in the rhetoric of cooperation that was designed to pave the way for China's transition to great power status.

Instead, it has become a roller coaster that Beijing itself is struggling to control.

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