China defends belt and road strategy against debt trap claims
- National People’s Congress spokesman positive ahead of planned April summit for participants in the multibillion-dollar infrastructure scheme
- Backlash suggests deep-seated anxieties over Beijing’s strategic intentions
China has sought to defend its ailing “Belt and Road Initiative” (BRI) from mounting international criticism ahead of an important summit in April to fine-tune the multibillion-dollar infrastructure investment programme.
National People’s Congress spokesman and former foreign affairs vice-minister Zhang Yesui refuted concerns that the project, estimated to be worth US$900 billion, lacks transparency and creates debt traps for participants, especially developing countries.
“China attaches great importance to the problem of debt sustainability and will neither force others to cooperate on projects nor create any traps,” Zhang said at the second session of the 13th National People’s Congress in Beijing on Monday.
“Obviously, like other international cooperation initiatives, there will be some difficulties, problems, risks and challenges during the implementation of the Belt and Road Initiative.
“However … with continued overall improvement, I believe that the Belt and Road Initiative will certainly bring better development and even more rewards to participating nations.”
Zhang said 157 nations and international organisations had signed belt and road agreements to date, with 67 joining in 2018.