Coronavirus threatens China's Belt and Road. What happens when it wants half a trillion dollars back?
NAIROBI, Kenya - 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.
