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It wasn’t very long ago when China was receiving foreign aid, but now the tables seem to have turned. Beijing has been lending out money to other countries, mostly in the form of high-interest loans from Chinese state banks. Most of these lendings are reportedly associated to Xi Jinping’s Belt and Road initiative projects. Experts fear that loans funding China’s ambitious projects are putting a huge population under high-debts. According to a study by AidData, Beijing’s flagship, BRI is heavily indebting many low and middle-income countries. Experts believe, China’s BRI is in danger of losing momentum due to opposition in targeted countries and rising debts. #China. #BRI. #ChinaBeltAndRoad. #XiJinping
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