Gästebereich » Coronavirus stimulus checks

When Chinese engineers flew home in January for the Lunar New Year, few in Africa would have imagined that a coronavirus outbreak was about to ground planes, upend supply lines and freeze work on dozens of Chinese-built roads, railways, ports and power stations.

Many of the engineers haven't returned. Construction sites fell silent. And now the COVID-19 pandemic has unleashed a global recession that threatens the colossal international loan program that is a symbol of China’s growing prestige and a centerpiece of President Xi Jinping’s reign.

The Belt and Road Initiative — China’s effort to finance nearly half a trillion dollars in new infrastructure across Asia, Africa, Europe and Latin America — took flight during a period of global expansion and easy travel that has now slammed into a sober reckoning.

Beijing faces mounting calls to reschedule loans for shipping hubs, electrical plants and transport links that look unsustainable as economies struggle and globalization slows. The projects’ reliance on Chinese workers could also draw greater opposition from local populations worried about fresh waves of coronavirus infections.




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