By: Johan van de Ven
Five years after it entered discussions surrounding China’s foreign policy, the Belt and Road Initiative remains a subject of political priority and public attention. Beijing has recently made a habit of attempting to persuade visiting heads of state to offer formal endorsement of the initiative, as Emmanuel Macron, Theresa May, and Dutch Prime Minister Mark Rutte have all found. Major international banks, among them Standard Chartered and Deutsche Bank, have signed on to Belt and Road-themed programs, while public attention towards the initiative continues to grow after a May 2017 spike. [1] Against this backdrop, it seems only natural that new project openings and capital commitments should continue on an upward trajectory. However, data collected by RWR Advisory Group shows that new projects in infrastructure, power, and energy—the lifeblood of the Belt and Road Initiative—have declined every year after peaking in 2015, measured both in terms of number of new projects and dollar amounts spent.