China's Ambitious Road to Somewhere

Everything about China's "Belt and Road" project is big -- from the scale of its investments to the guest list for this weekend’s gathering to celebrate the initiative. To improve its odds of success, China would be wise to think smaller.

True, the initiative -- which envisions building energy and transportation infrastructure from Asia to Europe -- addresses real needs. The often-poor countries along the proposed routes need modern roads, rails, ports and power plants. China, meanwhile, has legitimate worries about the security of its energy supplies, as well as money, expertise and excess capacity in its construction industry.