Africa: Why Djibouti’s China debt is raising the alarm
Euromoney |
By Chris Wright
Warning sirens are sounding about the level of debt Djibouti owes to China for Belt and Road projects. Parag Khanna, managing partner of FutureMap and author of a new book called The Future is Asian, which includes detailed coverage of BRI, makes another point: “Since when do we look at cross-border infrastructure projects from the standpoint of commercial returns?” he asks. “When in history has that ever played out as a good story? The entire history of infrastructure, cross-border or domestic, is loss leaders.”