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What’s wrong with development? The geopolitics of Belt and Road Initiative
The Belt and Road Initiative seeks to bring development to the world. Why is this a problem for the US and some of its Western allies? KEITH LAMB explains
China has become a technological powerhouse and proven that capital overseen by state power produces rapid development that defies the prevailing neoliberal model in the rest of the developing world

THE Belt and Road Initiative (BRI) is a series of land and sea infrastructure projects that will connect the “World Island” that is Africa and Eurasia. Should the West join, then railway tunnels, under both the Gibraltar and Bering Straits, will link up the world.

However, so far, the West has projected its worst history onto the BRI, depicting it as a Chinese neo-imperial plan to dominate the world through “debt-trap diplomacy.”

70 per cent of the Sri Lankan port of Hambantota being leased out for 99 years to a Chinese venture is widely seen as proof of this. Largely unreported is that the Chinese debt still stands because this soft debt is not the problem: Hambantota was leased out to pay back the private capital lenders who comprise the majority of Sri Lanka’s creditors.

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