Business Daily

Xi Jinping announced a massive building project along the ‘New Silk Road’ to very little fanfare in Kazakhstan 10 years ago this month. Infrastructure including railways, roads and ports have been built in 165 countries to date, as part of the Belt and Road Initiative (BRI). Billions of dollars has been 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)