IMF sees the upside of China´s massive Belt and Road project
(WorldNews Asia)

China´s massive Belt and Road Initiative building push may create debt risks but is also responding to major infrastructure gaps in Asia and could boost global trade, World Bank officials say. The relatively upbeat assessment of a sometimes controversial programme comes despite the debt crisis now faced by Pakistan, a recipient of massive Chinese loans. China launched the ambitious plan in 2013 under President Xi Jinping, seeking to link Asia, Europe and Africa with a network of ports, highways and railways. It has dispersed tens of billions of dollars in loans, often to highly indebted countries, sparking criticism of Beijing for everything from `debt entrapment` to excluding local labour...