Belt and Road Initiative Losing Steam as China Scales Back Lending

Attendance at this year's Belt and Road Initiative summit is lower than previous years, indicating waning appeal.

Many BRI projects have resulted in debt distress and default risks for poor nations like Zambia, Sri Lanka, and Pakistan.

China's slowing economy has reduced its capacity for massive construction projects abroad.

China issued its lowest level of loans to African governments in over 15 years in 2022.

China may renegotiate loan terms and provide smaller loans to avoid debt traps for nations.