The 2nd Belt and Road Initiative (BRI) Forum is due to be held in Beijing on 25-27 April
We do not expect to hear anything sufficiently specific from the forum that immediately moves markets. But we anticipate responses from the Chinese leadership on some of the following oft-mentioned BRI criticisms and concerns from the US, geopolitical allies of the US, multilateral agencies such as the IMF and mainstream (Western) media:
(1) Debt-financing burden resulting from BRI for recipient countries – we expect the Chinese to argue that BRI-related financing is small compared to the overall external financing burden for most recipient countries. (In the strictest sense this would be accurate, but when all China-related finance – of which BRI is merely one component – is consolidated, then there are countries such as Ecuador...
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