Beijing --- Chinese officials on Monday defended Beijing's initiative to build a "New Silk Road" of railways and other infrastructure across Asia against complaints it leaves host countries with too much debt after Malaysia canceled two high-profile projects. The officials said President Xi Jinping's signature foreign policy initiative is creating assets that are needed by developing countries but might take time to pay off. The deputy chairman of the Cabinet planning agency, Ning Jizhe, rejected what he said were foreign news reports that blamed the initiative for debt problems. "People's livelihoods and economic development have been boosted," Ning said at a news conference. "...
Keep on reading: Chinese officials defend move to build ‘New Silk Road’ of railways across Asia
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