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Michael Bennon
Working Papers

HOW THE BELT AND ROAD GAINED STEAM: CAUSES AND IMPLICATIONS OF CHINA’S RISE IN GLOBAL INFRASTRUCTURE

Francis Fukuyama, Michael Bennon, Bushra Bataineh
2019

Western observers have raised concerns over the rise and now predominance of Chinese state-backed bilateral lending in international infrastructure development. These range from China's growing geopolitical influence to the increasingly unsustainable debt levels of some of the nations receiving investments as part of the Belt and Road Initiative (BRI). In fact the BRI today is simply the next phase of a decades-long shift in the infrastructure sector towards China and away from traditional western development lending institutions.

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