Despite recent Belt and Road successes, including EU states joining, the China-led initiative still faces accusations of “debt-trap diplomacy.” The details of infrastructure projects in Sri Lanka and beyond, however, show that the Belt and Road is pushing for a new era of more equitable globalization based on “hard” and “soft” connectivity, without disrupting the existing rules and world order.

During the Second Belt and Road Initiative (BRI) Summit last month, the Chinese government notably shifted its focus and is now downplaying fears of debt encumbrance, corruption, and environmental degradation. But this should not distract us from the key fact that participation in the BRI continues to grow, including from traditional U.S. allies in Asia and Europe.

Recently, Europe has been trying to redefine its economic relationship with China by taking a sterner approach towards its counterpart’s distorted market practice. In the process, China has softened its position out of necessity.

With the United States not offering the political and economic support Europe needs to offset China’s influence, leaders like Macron and Merkel face the challenge of retaining the multilateral global order today, while also engaging China on key economic and global issues.

Greece’s recent decision to join China’s 16+1 initiative signals that cooperation between China and the Central and Eastern European Countries (CEEC) is strengthening. While both the BRI and 17+1 should remain vulnerable to criticism, the summits are building diplomatic bridges between European nations, while simultaneously expanding China’s influence.

In Europe’s biggest capitals, there has been significant skepticism about the Belt and Road Initiative and the Chinese government’s development strategy. As Beijing seeks to push through its 16+1 economic plan, friction with Brussels will continue to mount.

China’s willingness to listen to and address the concerns of the Belt and Road Initiative member states may invite a host of requests for price cuts, in the wake of its price reduction for Malaysian infrastructure.

China’s Belt and Road Initiative (BRI) is putting forward an alternative vision of global economic development to help developing countries escape poverty, and help developed countries head off inequality and populist challenges. But the US seems poised to squander its chance to participate and thereby shape this future of infrastructure, inclusivity, and innovation.

Authorities tone down publicity before Xi’s second BRI forum.