China's Bid for Globalization

In 2013, the Chinese government announced a global development strategy called the Belt and Road Initiative which would fund infrastructure projects in countries around the globe, primarily in countries that made up the ancient Silk Road.  Encompassing 62% of the world's population across 65 countries, these BRI projects seem to be a large part of China's bid for increased globalization through political, economic, and trading power in the countries China invests in.  While there are undoubtedly global benefits to China's infusion of money into developing countries, it is important to understand the risks of China's strategy.



Leaders in countries with proposed BRI projects face a difficult choice: whether to accept the influx of borrowed money or to be wary of China engaging in debt-trap diplomacy.  This diplomacy involves intentionally extending excessive credit to another country while intending to obtain political and economic concessions when the debtor country is unable to satisfy its debt obligations.  Essentially, China may be intentionally burdening countries using heavy debt in order to obtain geostrategic assets.  China has already used this strategy to obtain Sri Lanka's Hambantota port on a 99-year lease as it defaulted on repayment of loans.  Other ports are also in danger of being defaulted due to BRI projects, like the Doraleh Container Terminal in Djibouti or Kilindini Harbour in Kenya. On the flip side, even though a country may be increasingly reliant on China and lose sovereignty, the infrastructure projects China provides will still remain. 

Although there are risks to countries accepting Belt Road Initiative projects, the benefits gained from infrastructure projects in developing countries cannot be dismissed.  Given that many developing countries require infrastructure to utilize their resources and enter the global stage, the harms and benefits of the Belt and Road Initiative must be balanced to create a more globalized world.
















https://www.csis.org/give-and-take-bri-africa
https://chinapower.csis.org/china-belt-and-road-initiative/