https://www.bloomberg.com/authors/AT1PLzzUrAo/yuen-yuen-ang RSS for Node Thu, 14 May 2026 23:39:48 GMT https://www.bloomberg.com/view/articles/2018-09-27/china-s-belt-and-road-initiative-is-a-campaign-not-a-conspiracy https://www.bloomberg.com/view/articles/2018-09-27/china-s-belt-and-road-initiative-is-a-campaign-not-a-conspiracy Thu, 27 Sep 2018 22:00:19 GMT HAMBANTOTA, SRI LANKA - NOVEMBER 16: A Chinese site engineer is seen on site as the extension of the Southern Expressway from Matara to Hambantota continues under construction on November 16, 2018 near Hambantota, Sri Lanka. Extension of the Southern Expressway in Sri Lanka is one of the major infrastructure projects built by Chinese and Sri Lankan workers under the framework of the Belt and Road Initiative. The 96-kilometer project was undertaken by three Chinese companies, with a $1.9 billion concessional loan from the Export-Import Bank of China. As the political crisis escalates in Sri Lanka, former President Mahinda Rajapaksa's return to power in late October has been watched with increasing concern by countries including the U.S., China and India. The re-entry of Rajapaksa could and raise the influence from Beijing and alter the power dynamics around the Indian Ocean. During Rajapaksa's 2005-2015 presidency, Sri Lanka saw an influx of Chinese investment and economic support since he relied heavily on China for economic support, military equipment and political cover. Chinese investments paid for a new port, a new airport and new railway on Sri Lanka's southern coast, among other projects in Colombo, which forced the government to sell strategic assets to Beijing, such as the Hambantota port, when it wasn't able to meet liabilities. (Photo by Paula Bronstein/Getty Images)