Xi Jinping announced a massive infrastructure project along the ‘New Silk Road’ to very little fanfare in Kazakhstan ten years ago this month.
Railways, roads, ports and everything in between have been built in 165 countries to date with billions being lent to countries in Africa, Asia, Europe and South America.
Some are now struggling to afford the payments and China is reducing the amount being loaned.
We look at what this means for Beijing’s finances and for countries with huge projects underway, but with no means of meeting the repayments.
Presenter: Ed Butler
Producer: Hannah Bewley
Additional reporting: Michael Kaloki
(Picture: Xi Jinping waits for a photo call at the China-Central Asia Summit in Xian, China in May 2023: Credit: Florence Lo/Reuters)
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