China Road and Bridge Construction of the Nairobi Expressway in Kenya. Simon MAINA / AFP
The National Development and Reform Commission (NRDC), China’s top economic planning agency, published a new report on Tuesday, according to the South China Morning Post newspaper, that detailed some of the key challenges confronting Beijing’s new 5-year plan, with a particular focus on infrastructure development as part of the Belt and Road Initiative.
In short, the NRDC warned that the combined effects of the ongoing pandemic, worsening ties with the United States, and heightened geopolitical risk in certain emerging markets will all adversely impact financing Belt and Road infrastructure projects:
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There’s been growing excitement among environmentalists around the world that China may finally be ready to abandon its once expansive overseas financing of coal power plants, particularly in Belt and Road member countries. ...