Since 2000, China has spent over $1.34 trillion on 20,985 projects across 165 countries, with a significant increase in spending after launching the Belt and Road Initiative in 2013.
Key Takeaways
- China has spent over $1 trillion on more than 20,985 development projects across 165 countries since 2000, establishing itself as a major global financier.
- The Belt and Road Initiative has driven a significant increase in China’s international development spending, surpassing the United States and other major powers in the early years.
- Russia, Venezuela, and Pakistan have been major recipients of Chinese development funding, but Beijing’s focus is shifting to protect its global investments.
- The Group of Seven (G7) countries have increased their development spending to compete with China, but it remains uncertain if they can match Beijing’s financial prowess in the long term due to…
