China’s Belt and Road Initiative (BRI) has significantly transformed the global landscape. The BRI challenges conventional thinking about global development, prompting us to reconsider the interplay between existing development agencies. Numerous studies have explored different facets of China’s BRI, spanning various disciplines, approaches, and theories.Many studies delve into China’s overarching strategy behind the BRI. They analyze China’s economic and political aspirations within this ambitious initiative.Understanding China’s motivations is crucial for comprehending the BRI’s impact on regional and global dynamics.Some works focus specifically on the strategic importance of the BRI. They examine how other countries respond to and are affected by BRI projects.By scrutinizing these responses, researchers gain insights into the initiative’s broader implications.A significant portion of existing literature centers around the concept of the ‘debt trap’ associated with the BRI.This debate explores whether BRI projects lead to unsustainable debt burdens for participating countries.In summary, the BRI is a multifaceted phenomenon that warrants comprehensive analysis. Researchers continue to explore its economic, political, and strategic dimensions, contributing to a deeper understanding of this transformative initiative.

▲The title page of RCAS new book.

“The Reality and Myth of BRI’s Debt Trap: Evidences from Asia and Africa” (2024), edited by Nian Peng and Min Yu Cheng, is a significant study that sheds light on China’s Belt and Road Initiative (BRI).This book comprises a collection of papers examining the impacts of the BRI across various countries. These countries include China, India, Myanmar, Cambodia, Laos, the Philippines, Malaysia, Indonesia, Bangladesh, Nepal, and Nigeria. By analyzing debt-related issues in these diverse contexts, the book provides a comprehensive perspective on the challenges faced by BRI participant nations. The book challenges the prevailing Western-centric narratives surrounding the BRI’s alleged “debt trap.” It provides a well-balanced view by presenting compelling evidence from Asian and African countries.Rather than perpetuating myths, the book aims to offer a nuanced understanding of the debt dynamics associated with BRI projects.

The book prompts readers to reevaluate existing theories used to understand debt traps. It encourages critical thinking about the BRI’s implications.Notably, the book compares how different countries perceive and address the challenges posed by the BRI. This comparative approach enriches our understanding of the complex dynamics involved.Beyond analyzing debt traps, the book offers practical policy recommendations. These recommendations can serve as discussion points for policymakers and scholars.By focusing on solutions and actionable steps, the book contributes to informed decision-making regarding BRI-related debt management.In summary, “The Reality and Myth of BRI’s Debt Trap” provides a holistic view, dispelling myths while emphasizing policy-oriented insights. It’s a valuable resource for anyone interested in the BRI’s economic impact and debt dynamics.

This article was first published at Indo-Pacific Network, Bangladesh, https://inpanet.org/reality-and-myth-of-bris-debt-trap-evidences-from-asia-and-africa-2024/?

Author Information:

Narut Charoensri is an assistant professor in International Relations at Chiang Mai University, Thailand. He is also an non-resident fellow at RCAS, Hong Kong.

Book information: 

Nian Peng and Ming Yu Cheng, The Reality and Myth of BRI's "Debt Trap": Evidences from Asia and Africa, Singapore: Springer Nature, 2024.

The Springer Nature links: https://link.springer.com/book/10.1007/978-981-97-1056-0.

The RCAS links: http://www.rcas.top/event/2306.html