One Belt, One Road, One Question: What’s the Big Deal?

One Belt, One Road, One Question: What’s the Big Deal?

Delegations from around the world have traveled to Beijing this week for a forum promoting China's Belt and Road Initiative (BRI), a trillion-dollar Chinese grand plan to build new roads, rails, ports and telecom networks around the world. The plan aims to recreate ancient trading routes between Asia, the Middle East, and Europe, but also to tighten China's more recent ties with countries in Sub-Saharan Africa and Latin America.


The positive: Countries that sign up get urgently-needed infrastructure upgrades, boosting regional and global trade. For China, BRI will expand Beijing's international commercial and political influence.

The scale of the project is enormous – in today's dollars, it's roughly ten times what the US spent on the Marshall Plan to rebuild post-war Europe. About 80 countries have already joined, and dozens more are flirting with the idea. For a world that badly needs more and better infrastructure, Belt and Road is a good thing.

The negative: Critics of the plan warn that China is setting a debt trap by allowing developing countries to accept loans they can't pay back. Default could then enable Beijing to seize assets – as it's already done on a handful of occasions – or exert political pressure on cash-strapped governments.

This critique doesn't just come from the US, which increasingly sees China as a commercial and strategic rival. The governments of Malaysia, Pakistan, and Sri Lanka have each raised this concern in recent months. Chinese officials say this threat is greatly exaggerated but have pledged during this week's forum to take steps to minimize the risk of defaults.

Read more: BRI is opening up a new fault line in Europe

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On the latest episode of 'That Made All the Difference,' Vincent Stanley, Director of Philosophy at Patagonia, shares his thoughts on the role we all have to play in bringing our communities and the environment back to health.

For many, Paul Rusesabagina became a household name after the release of the 2004 tear-jerker film Hotel Rwanda, which was set during the 1994 Rwandan genocide.

Rusesabagina, who used his influence as a hotel manager to save the lives of more than 1,000 Rwandans, has again made headlines in recent weeks after he was reportedly duped into boarding a flight to Kigali, Rwanda's capital, where he was promptly arrested on terrorism, arson, kidnapping and murder charges. Rusesabagina's supporters say he is innocent and that the move is retaliation against the former "hero" for his public criticism of President Paul Kagame, who has ruled the country with a strong hand since ending the civil war in the mid 1990s.

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Bibi's COVID scheming: With coronavirus cases spiking, Israel has imposed a second nationwide lockdown, the first developed country to go back to draconian measures of this kind since the spring. The controversial decision, which came as Israeli Jews prepared to celebrated the Jewish High Holidays, represents a certain failure of Prime Minister Netanyahu's handling of the pandemic, in which Israel emerged as a global case study in how not to reopen after the initial lockdowns. Polls show that two-thirds of the public disapprove of Bibi's handling of the crisis. Many critics suspect the second lockdown — which bans large public gatherings — isn't only about flattening the curve, but about quelling the anti-Netanyahu protests that have gained steam throughout the country in recent months. This all comes as the Israeli government faces an unprecedented crisis: it has failed to pass a budget in two years and its economy is in free fall, sparking fears of another election by year's end (the fourth in less than two years).

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Gerald Butts, Vice Chairman & Senior Advisor of Eurasia Group, discusses reasons the rapid global response to climate change warrants optimism on UNGA In 60 Seconds.

There's a lot of doom and gloom out there about climate change. Can you give me a reason to be optimistic?

I'm going to say something you don't hear set very often when it comes to climate change. You should be an optimist. You should be a skeptical optimist, but an optimist nonetheless. Let me explain what I mean. We are scaling up climate solutions faster than even the most ardent among us thought possible a decade ago. Consider this. In 2010, about half of US electricity was generated from coal. This year less than 20% will be, and it's trending towards zero at increasing velocity.

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Ian Bremmer's Quick Take:

It's UNGA week, very unusual New York to have the United Nations General Assembly meetings. You know, the city is locked down. It's almost always locked down this week, but usually you can't get anywhere because you've got all these marshals with dozens of heads of state and well over a hundred foreign ministers and their delegations jamming literally everything, Midtown and branching out across the city. This time around, the security cordon for the United Nations itself is barely a block, and no one is flying in. I mean, the weather is gorgeous, and you can walk pretty much anywhere, but nothing's really locked down aside from, of course, the fact that the restaurants and the bars and the theaters and everything else is not happening given the pandemic. And it's not just in the US, it's all around the world.

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