Hidden Debt Plagues China’s Belt and Road Infrastructure Plan, Studies Find
09.18.23
Research on Chinese projects abroad points to other major problems like corruption, labor violations and environmental risks
Hidden debt and problematic projects are emerging as features of China’s Belt and Road Initiative, with several research reports pointing to headwinds facing President Xi Jinping’s international infrastructure-development program.
Trillions of dollars in investment are needed around the world for infrastructure, which can mean anything from bridges to healthcare. China’s program represents an enormous injection of funds for some of the most needy nations, but it has stirred global debate about the way China finances and manages its projects.
In its deep dive into Belt and Road projects, AidData, a research center at the College of William and Mary in Williamsburg, Va., counted 42 low- and middle-income countries that now have debt exposure to China exceeding 10% of their annual gross domestic product.
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The Era Of ‘Tech Diplomacy’ Is Here
Technology is the new frontier of international relations. The interaction is bi-directional: technology is defining diplomatic matters while diplomacy is also influencing the development and deployment of technology. Take semiconductors as an example. This is a technology that forms the foundation of digital economy, national security, and productivity in almost all industries. Global supply chain in the semiconductor industry is shaping U.S. foreign policy. Conversely, America’s diplomatic effort has been redefining the supply chain. Tech diplomacy is different from science diplomacy, which became a key pillar for the U.S. and other countries since World War II. Scientists participated in treaty negotiations, engaged in bilateral summits and served as attachés at embassies. Primary topics included nuclear proliferation, super-collider construction, human space exploration and environmental science.