There's been a lot of talk in recent years about the new "small and beautiful" doctrine that now guides China's Belt and Road Initiative. The problem is that a lot of people still do not understand what it actually means in practice.
President Xi Jinping first unveiled the concept at the Third Belt-and-Road Symposium in 2021 when he said that China's overseas development finance would focus more attention on "better connectivity" for telecommunications, energy, and financial services.
China has also had to scale down its financing of large-scale infrastructure projects because of economic challenges at home and debt sustainability issues among borrowing countries.
Lui Kanyi, a Beijing-based project finance lawyer and head of China at a large international law firm, has been closely following the transformation of the BRI for many of his Chinese clients. Kanyi joins Eric & Cobus to discuss the "small and beautiful" trend and what people should know about the future direction of the BRI.
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