ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Will China let Belt and Road die quietly?

Xi's global investment program faces domestic criticism amid economic and fiscal worries

| China
A construction worker takes a long look at China-funded Sinamale bridge in Male, Maldives.   © Reuters

The news for China's ambitious Belt and Road Initiative (BRI) has been unrelentingly bad.

Prime Minister Mahathir Mohamad of Malaysia has canceled two mega BRI projects, including a $20 billion railway, citing high costs. Pakistan's new government has called for a review of the crown jewel of BRI -- China-Pakistan Economic Corridor (CPEC), to which China has committed more than $60 billion in funding. Myanmar's government has just told Beijing that construction of a suspended China-funded hydropower dam would not be allowed to resume. The Maldives, the tiny island nation in the Indian Ocean, is trying to renegotiate down the $3 billion debt -- equal to two thirds of its gross domestic product -- it has borrowed from China to fund BRI projects.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more