China’s BRI offers a glimpse into Biden’s ambition and perhaps what his infrastructure pact will come up against.
BRI deals also usually include construction and equipment by Chinese companies, which are mostly state-owned.
"Hence, it is usually public monies that fund large-scale infrastructure, since they make less commercial sense for private firms concerned with profits as well as quarterly or even annual results," he added."This is especially the case for the projects the PRC [People's Republic of China] invested in as part of the BRI. The lack of investment previously had to do with weak commercial cases for investment.
"25% of debt of emerging markets is treading in distressed territory," IMF's Managing Director Kristalina Georgieva told CNBC on the sidelines of the Delhi G20 leaders' summit.The issue has gotten serious enough that U.S.
"Many states would like access to the U.S. market, but U.S. domestic politics seems to make such developments more difficult at the present time," Chong, the NUS associate professor, said.
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