China fails to deliver megaprojects

It also casts further doubt on the success of BRI, an ambitious pet project led by President Xi Jinping aimed at reviving old trading routes linking Asia with Europe via billions of dollars of investments in roads, railways, ports and other infrastructure. "There is much uncertainty about the future of the BRI," said the report's authors, Alexandre Dayant and Grace Stanhope. "Debt crises in many borrowing countries and deteriorating economic conditions in China itself have fuelled predictions that the BRI will languish." While China's economic growth is slowing, the authors argue it would be premature to write off BRI. Instead,…