There may be domestic blowback to a failure of the BRI. The Chinese people may not be all that generous about Beijing’s largesse abroad if it amounts to little. Indeed, the policy banks were set up to execute fiscal stimulus and give out business loans at home, not to fund failed states. China Development Bank, the most muscular one, is already under-capitalized compared to its global peers. It has taken 13 bailouts in 30 years from the International Monetary Fund.

Source: Washington Post August 18, 2021 23:26 UTC