New ThinkChina Analysis: Development, Debt, and Distress
What can the situation in Sri Lanka tell us about China’s Belt and Road Initiative? During Sri Lanka’s ongoing economic crisis, China initially seemed to take a step back, leaving everyone to wonder whether the Chinese Communist Party would agree to restructure its debt in Sri Lanka. If Beijing agreed to help its “friend in need”, what would this entail for other BRI countries seeking to restructure their debt in response to the COVID-19 pandemic?
In this article, Tabita Rosendal, PhD student at Lund University, gives an overview of some of the trends currently affecting the BRI, and relates them to the challenges China faces on both the national and international level.