China looking for new ways to resolve current debt quagmire: Report

After the first version of China’s flagship Belt and Road initiative was blocked, Beijing is working on a 2.0 version while being open to accepting some losses on loans and renegotiating debt, something it had been previously unwilling to do, a report said. Federico Giuliani writing for Inside Over said, “China has been accused of digging holes for others with the “One Belt, One Road” initiative, only to fall into it but the country denies the criticism while refusing to admit its loan losses.” China’s Belt and Road initiative -“One Belt One Road” project is in deep trouble after big…