Understated Issues will determine the Belt and Road Initiative’s success.

Summary: The Belt and Road initiative (BRI) will span 65 countries, 60% of global output with substantial socio-economic benefits. Given the project’s Chinese origins, the need for transparency on funding terms are increasingly salient; the size and impact of Chinese funding on the sustainability of recipient countries' fiscal positions remain elusive. In the absence of intentional policies designed to ensure technology transfer, workers' rights and a “Tag” (transparency, accountability, and governance) approach to the BRI, declining average credit quality for EMs and rising debt…