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Belt and Road

China slows foreign lending as Belt and Road problem loans triple

Sri Lanka falls into debt crisis while Pakistan is strapped for cash

The logo of the Belt and Road Forum held in Beijing 2019

DALIAN, China/MUMBAI -- China's once-unstoppable Belt and Road Initiative has hit a speed bump, with many loans to emerging economies falling into repayment problems, forcing Beijing to tread lightly on lending.

In Sri Lanka, the southern port of Hambantota is an isolated area with peacocks and monkeys roaming around. Paved roads are dominated by cows instead of vehicles in the port, for which China obtained the rights to operate for 99 years in exchange for debt forgiveness. Signs warn of wild elephant crossings.

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