The Belt and Road Initiative seeks to accelerate mo

The Belt and Road Initiative seeks to accelerate mo

modernization in emerging and developing economies with the participat

ion of the advanced economies. Yet, in recent months, Washington has claimed the initiative’s

projects are “debt traps” for Belt and Road countries. Which is a flawed effort at distraction.

BRI projects promote inclusive growth

If anything, Belt and Road projects seek to promote more inclusive global economi

c development. Certainly, China will make its share of mistakes, but it

has a track record of learning quickly from those mistakes.

In the postwar era, Washington and its allies had an

opportunity to lift the developing countries out of abject poverty. Yet success s

tories involve mainly those Asian economies that ignored the West’s growth lessons, which were

too often coupled with conditionality, debt and dependency, in the name of “structural adjustment”.

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