Chinese President Xi Jinping conducts a press conference at the Belt and Road Forum, at Yanqi Lake on the outskirts of Beijing, April 27, 2019 (AP photo by Mark Schiefelbein).
The prevailing foreign assistance architecture of today’s world, which prioritizes transparency, inclusion and accountability, was developed and codified in a unipolar system—with significant U.S. leadership and influence. Since the end of the Cold War, Western donors have supported this framework, further developing and codifying it in the Millennium Development Goals of 2000; the 2005 Paris Declaration on Aid Effectiveness; the 2008 Accra Agenda, which built on the Paris Declaration; and the 2011 Busan Agreement to standardize good development practice, norms and standards. This architecture is now coming under pressure, largely due to China’s growing interest in and influence over today’s [...]
Sri Lankan President Mahinda Rajapaksa, in white, walks with Chinese President Xi Jinping after officially launching the Colombo Port City development, in Colombo, Sri Lanka, Sept. 17, 2014 (AP photo by Eranga Jayawardena).
China has undertaken countless infrastructure projects across the globe as part of its Belt and Road Initiative, but the plan to transform the iconic waterfront of Colombo, the Sri Lankan capital, was so consequential, so massive, that Chinese President Xi Jinping personally attended the 2014 launch. From the start, the plan sparked fierce public protests, but it moved forward. Now, the $1.4 billion Colombo Port City development has run into legal headwinds, once again making Sri Lanka one of the principal case studies of China’s effort to gain a strategic foothold in developing countries across the globe. This week, Sri [...]
An aerial view of the Qingbaijiang Railway Port, where freight trains travel between China and Europe, in Chengdu city, Sichuan province, China, April 30, 2019 (Imaginechina photo by Yi Fang via AP Images).
Seven years into a sweeping and costly effort to rebuild Asia with itself at the center, China has a publicity problem with its Belt and Road Initiative. What has become the guiding macroeconomic centerpiece of Chinese foreign policy is in many ways stranded on shaky ground. Some of the Belt and Road Initiative’s trouble is superficial, like its unwieldy name, which had to be rebranded from its earlier form, “One Belt, One Road,” that itself was an abbreviation for two interrelated investment strategies called the Silk Road Economic Belt and the 21st Century Maritime Silk Road. But fundamentally, Beijing’s problems [...]
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