Donald Low highlights concerns over China’s experience in financing for Belt and Road Initiative projects

Professor Donald Low, a Senior Lecturer at HKUST, initially doubted the Belt and Road Initiative (BRI), validated by recent Chinese lending cutbacks and internal criticisms.

Referencing Kahneman’s behavioral principles, he underscored unwarranted optimism among BRI participants. Adjusting for China’s limited financing experience, he suggested BRI projects might underperform compared to World Bank-financed ventures.