The international community has been criticizing the Belt and Road Initiative, claiming it will push the Belt and Road countries into a debt trap.
Yet there has been no substantive research confirming the claim is true. Such criticisms are mostly part of the politicization of what essentially is an economic issue, especially since data show that the Belt and Road Initiative can shorten logistics time by about 2.5 percent, reduce global trade costs by 2.2 percent, and increase global real income by as high as 2.9 percent.
Government’s debt doesn’t stunt growth
According to the Barro-Ricardo effect, government debt does not affect econo…
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