{"id":604926,"date":"2018-12-17T04:23:13","date_gmt":"2018-12-17T04:23:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/"},"modified":"2018-12-17T04:23:13","modified_gmt":"2018-12-17T04:23:13","slug":"chinas-belt-and-road-initiative-sparks-backlash-across-asia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/","title":{"rendered":"China\u2019s Belt and Road Initiative sparks backlash across Asia"},"content":{"rendered":"<p><b>Taking shots at China\u2019s Belt and Road initiative.<\/b> China is reassessing its Belt and Road Initiative (BRI) as mismanagement, accusations of corruption, and poor quality projects implemented under the initiative wreak political havoc across Asia, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-12-10\/how-asia-fell-out-of-love-with-china-s-belt-and-road-initiative\">according to Bloomberg<\/a>. Maldivian President Abdulla Yameen, for one, was voted out of office after the public learned that his borrowing from Beijing \u2014 which financed the construction of a new runway, housing developments, a hospital, and the 2.1 km-long \u201cChina-Maldives Friendship Bridge\u201d \u2014 racked up almost 20% of the Maldives\u2019 GDP in debt to China. Leaders in Malaysia and India are among those criticizing what they see as China\u2019s \u201cnew version of colonialism\u201d that has lured countries into debt traps.<\/p>\n<p><b>Analysts say this pushback marks the end of the first phase of BRI.<\/b> \u201cA new model has not yet emerged, but it is clear that the old one, almost entirely focused on speed and scale, is no longer sustainable,\u201d said German Marshall Fund Senior Fellow Andrew Small. Senior Chinese officials say they have noted examples of misconduct and are readjusting their global plans accordingly.<\/p>\n<p><b>The US has (of course) swooped in to fill the gap<\/b>, setting up an agency to lend as much USD 60 bn for infrastructure projects in several countries. This funding, however, pales in comparison to the estimated USD 1.3 tn BRI might hand out by 2027 and the USD 26tn worth of infrastructure the Asian Development Bank forecasts the region needs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taking shots at China\u2019s Belt and Road initiative. China is reassessing its Belt and Road Initiative (BRI) as mismanagement, accusations of corruption, and poor quality projects implemented under the initiative wreak political havoc across Asia, according to Bloomberg. Maldivian President Abdulla Yameen, for one, was voted out of office after the public learned that his [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":604927,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9003],"tags":[8901,116,72,7111,2397],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-reading","tag-asia","tag-china","tag-enterpriseam","tag-infrastructure","tag-worth-reading","wpautop","entry"],"acf":{"mongo_id":"6b793444-1c1e-43ec-835f-07a5204faa40","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2018\/12\/2835.jpg","photo_position":"above","related_issue":[604907],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>China\u2019s Belt and Road Initiative sparks backlash across Asia - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s Belt and Road Initiative sparks backlash across Asia\" \/>\n<meta property=\"og:description\" content=\"Taking shots at China\u2019s Belt and Road initiative. China is reassessing its Belt and Road Initiative (BRI) as mismanagement, accusations of corruption, and poor quality projects implemented under the initiative wreak political havoc across Asia, according to Bloomberg. Maldivian President Abdulla Yameen, for one, was voted out of office after the public learned that his [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-17T04:23:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2018\/12\/2835.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"China\u2019s Belt and Road Initiative sparks backlash across Asia\",\"datePublished\":\"2018-12-17T04:23:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/\"},\"wordCount\":246,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2018\/12\/2835.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Asia\",\"China\",\"EnterpriseAM\",\"infrastructure\",\"worth reading\"],\"articleSection\":[\"Worth reading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/chinas-belt-and-road-initiative-sparks-backlash-across-asia\/\",\"name\":\"China\u2019s Belt and Road Initiative sparks backlash across Asia - 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An undersea fiber optic data cable known as EllaLink, linking Europe to Latin America, came online in May. Backed by the European Investment Bank and major public lenders, the EUR 150 mn project is seen to\u2026","rel":"","context":"In &quot;GLOBAL TRADE&quot;","block_context":{"text":"GLOBAL TRADE","link":"https:\/\/enterpriseam.com\/egypt\/category\/global-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/431.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571179,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/","url_meta":{"origin":604926,"position":1},"title":"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze","author":"enterpriseam admin","date":"3 May 2020","format":false,"excerpt":"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze: Several countries are seeking debt relief from China on loans handed out by its banks under the Belt and Road Initiative (BRI) as the covid-19 pandemic is straining their economies, the Financial Times reports. 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The\u2026","rel":"","context":"In &quot;Worth reading&quot;","block_context":{"text":"Worth reading","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-reading\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/527.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581015,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/chinas-belt-and-road-initiative-has-not-stood-the-test-of-time-one-thing-ai-cant-do-yet-logical-and-social-reasoning\/","url_meta":{"origin":604926,"position":3},"title":"China\u2019s Belt and Road initiative has not stood the test of time + One thing AI can\u2019t do yet: Logical and social reasoning","author":"enterpriseam admin","date":"1 February 2023","format":false,"excerpt":"Cracks in several of China\u2019s Belt and Road infrastructure mega-projects have come to light: Over the last 10 years, China has disbursed USD 1 tn in foreign loans, as part of the Belt and Road initiative \u2014 intended to develop economic trade and expand China\u2019s influence across Asia, Africa and\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/96.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586222,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/08\/uae-joins-china-led-shanghai-cooperation-organization-as-a-dialogue-partner\/","url_meta":{"origin":604926,"position":4},"title":"UAE joins China-led Shanghai Cooperation Organization as a dialogue partner","author":"enterpriseam admin","date":"8 May 2023","format":false,"excerpt":"Egypt joined the SCO last year.","rel":"","context":"In &quot;AROUND THE WORLD&quot;","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/405.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548042,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/24\/bri-blowback\/","url_meta":{"origin":604926,"position":5},"title":"BRI blowback","author":"enterpriseam admin","date":"24 July 2022","format":false,"excerpt":"China\u2019s Belt and Road Initiative could be in trouble as debt crises loom in emerging markets: The ambitious overseas lending scheme that sees China pouring investments into countries across Africa, Asia, and the Middle East, to further trade and foreign policy is struggling under a mountain of non-performing debt and\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=604926"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604926\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/604907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/604927"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=604926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=604926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=604926"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=604926"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=604926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}