China’s Belt and Road Initiative (BRI) is undergoing some dramatic changes as Beijing pulls back on the massive loans that once defined it as the government is now forced to channel more funds domestically to bolster the country’s slowing economy.
Nowhere is that more evident than in Africa where we learned this week that lending in 2020 plunged 77% from the previous year to just $1.9 billion, a 16-year low.
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