Economics
China’s Silk Road Cuts Through Some of the World’s Riskiest Countries
- 60% of Belt and Road partners have junk status or not rated
- Communist Party has incorporated plan into its constitution
China Bets Big on Infrastructure
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Chinese President Xi Jinping’s new Silk Road to Europe traverses territory where most bond investors fear to tread.
Of the 68 nations China lists as partners in its Belt and Road Initiative, the sovereign debt of 27 are rated as junk, or below investment grade, by the top three international rating firms. Another 14, including Afghanistan, Iran and Syria, are either not rated or have withdrawn their requests for ratings.