BEIJING - China is expected to promote a recalibrated version of its Belt and Road initiative at a summit of heads of state this week in Beijing, seeking to allay criticism that its flagship infrastructure policy fuels indebtedness and lacks transparency.
Mr Xi launched the Belt and Road initiative in 2013, and according to data from Refinitiv, the total value of projects in the scheme is at US$3.67 trillion , spanning countries in Asia, Europe, Africa, Oceania and South America. Some Belt and Road projects"are going through a period of rationalisation and evaluation," said Mr Li Lifan, deputy director general of the Centre for Belt and Road Initiative Studies at the government-backed Shanghai Academy of Social Sciences.
Other analysts said there was a noticeable change in China's overseas efforts to market the policy in the second half of 2018. German Economy Minister Peter Altmaier, a confidant of Chancellor Angela Merkel, will attend the summit. "It's relatively clear that the Belt and Road narrative being put forward by Beijing over the past several months is designed to counter the criticism and push back," he said.
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