on Monday and signed a memorandum of understanding for cooperation on trade, investment and finance for projects in third countries along the routes of Xi's signature foreign investment program. The central European country has a reputation of being an international leader in banking.can engage more European countries for the BRI, " said Zhu Ning, professor of finance at Tsinghua University in Beijing.
process is not going as fast as a few years ago and it will post some challenges to China's currently mighty foreign reserve. "beginning with the construction of rail, sea and other transportation routes stretching from central Asia to Africa. The projects can provide needed infrastructure. But critics say Chinese companies, often state-owned, tend to benefit more since they are usually the contractors or providers of financing.
That puts China in control of overseas assets if a country can't pay back its loans. Earlier this month, U.S. Secretary of State Michael Pompeo called some of China's lending practices with other countries While it is encouraging that Chinese officials are talking more openly about prioritizing debt sustainability and environmental sustainability, real change will require more than signing symbolic documents.Director of the Reconnecting Asia Project at the Center for Strategic and International Studies
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