Economic Headwinds and a Chance of Slower Growth

China’s economic trajectory and the future of the BRI The BRI was premised on the movement of labour, capital, and materials to BRI destination countries and regions. [...] The crumbling of the BRI model in the short-term is related to the severe zero-COVID-19 strategy that the Chinese government adopted to control the pandemic domestically. [...] Memorandum of Understanding on business cooperation On the financing side, the US Trade and Development Agency (USTDA), the Australian Department of Foreign Affairs and Trade, and the Japan Bank for International Cooperation (JBIC) signed a Memorandum of Understanding to promote cooperation among Japanese, American, and Australian companies in the infrastructure, energy, and natural resources sect. [...] As the US, the EU, and other states continue to levy sanctions and isolate Russia to defend the Ukraine and the current inter- national order, there may be a further expansion of the conflict or broader sanctions on Russia, and potentially China, if it decides to directly support the Kremlin economically in any way. [...] 22 ECONOMIC HEADWINDS AND A CHANCE OF SLOWER GROWTH: WHAT THE FORECAST HOLDS FOR CHINA’S BELT AND ROAD INITIATIVE Balancing strategic autonomy and opportunity From bridges to tunnels, and from ports to highways, emerging countries in the Indo-Pacific and on the Eurasian continent understand that their develop- ment and prosperity are related to investing in infrastructure and connectivity.