The Risks of One Belt One Road: Debt, 5G and Military/Australia cancels the Agreement/Boao Forum

On April 20, the opening ceremony of Boao Forum for Asia 2021 was held in Hi-nan,
China. The top leader of the Chinese communism party Xi Jinping gave his
keynote speech at its opening ceremony, saying the One Belt One Road is a public road open to all.
Australian Foreign Minister Marise Payne announced on the evening of the 21st that the Belt and Road agreement that the Victorian governor had signed with China without permission had been scrapped under Australia new Foreign Relations Bill.
In 2013, China established the One Belt, One Road as a national strategy, a plan to
invest heavily in infrastructure with countries near the old Silk Road, i.e., to build
railroads, roads, airports, and other large-scale projects.
The world is examining the practical results of the Belt and Road project. It hasn’t
brought the promised benefits to those countries who have accepted the agreement.
More importantly, it has increased the risk for debt considerably. Beyond the debt crisis, there are additional risks for countries that accept Belt and Road
agreements.
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