Image source: livemint.com
The Kabul Times reported that the Belt Raod Initiative of China becoming financially inviable due to the slowing down of China's economy. Investments have come down to $47 bn in 2020 which is a recession of 54% in just one year, mentioned by the Green Belt and Road Initiative Centre. Along with these, the BRI project is embroiled under different problems such as corruption, lack of transparency, debt-traps and environmental impacts.
The Kabul Times reported that Pakistan has confirmed to complete only 32 projects out of 122 projects announced. China had been wooing the poor countries through loans and investments and had developed a diplomatic image of dependable development partner which will be seriously dented.
The BRI project is a dream project of Xi Jinping. The project is about to lay down roads and sea routes throughout the globe. The BRI project is also a contention point between India and China as it passes from PoK to reach Pakistan.