China’s Belt and Road Initiative faces increased political risk in participating countries, report warns
- The country’s top economic planner also identified changes to global governance and trade and the ongoing rivalry with the US as major challenges
- National Development and Reform Commission also warns that domestic companies may face problems in funding projects
A report by the National Development and Reform Commission outlining the country’s development over the course of its new five-year plan also identified what Beijing regards as the key problems and tasks the infrastructure project faces.
“Belt and road construction is facing an increasingly complex geopolitical environment,” the report said.
It identified changes to global governance and trade systems, the ongoing rivalry between China and the US, and growth in emerging markets as the most important factors affecting the project.
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While China was the only major economy to grow last year, the report said domestic financial and construction companies taking part in the scheme still faced challenges.