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Abstract

China’s Belt and the Road Initiative (BRI), introduced in 2013 by China’s President Xi, has been a major milestone in global development finance. Resonating with the historical ‘Silk Road”, BRI attempts to connect many countries and continents around the world. Matching its humongous size of nearly $1 trillion, it covers about 165 countries around the world. Even as the BRI benefitted some of the recipient countries, it has built a mountain of debt among many developing countries. This paper suggests an efficient, equitable, and representative method of resolving the BRI debt-distress through the formation of a BRI Club, which should include China as well as representatives from developing countries that borrowed under the BRI.

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