Key Takeaways:
China has reportedly spent $240 billion bailing out 22 developing countries between 2008 and 2021, with 80% of lending occurred between 2016 and 2021
China's Belt and Road Initiative (BRI) has also sparked controversy and criticism due to its potential risks, including debt distress, opaque bidding processes, and environmental impact
The BRI's geopolitical implications, such as China's growing influence, have also raised concerns and tension in the international community
Different nations have responded in various ways to the potential risks, with the US promoting a "Free and Open Indo-Pacific," the EU launching its own connectivity strategy, and Japan promoting its version of infrastructure development
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