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Minxin Pei: Belt and Road is less straightforward than planned

Beijing's grand scheme could turn out to be a financial boondoggle

Turkish President Recep Tayyip Erdogan was one of the 29 heads of state to attend the Belt and Road Forum in Beijing on May 14-15.   © Pool Photo via AP

When Beijing announced its ambitious plan in 2013 to develop infrastructure connecting Asia and Europe, known as the Belt and Road Initiative, the strategic and economic logic seemed overwhelming.

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