China's 'Belt and Road' project promises infrastructure financing for 65 nations
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Chinese President Xi Jinping has hailed his country’s Belt and Road initiative as "the project of the century". By spending more than €100 billion to finance infrastructure projects abroad, the plan could not only boost the world's second-largest economy but would likely increase Beijing's influence as well. But there is concern that if the projects fail to deliver, then the foundations will be laid for a massive debt burden.