Middle East nets half of China’s Belt and Road funding

A number of countries saw their BRI investments drop off completely this year, including Russia, Egypt and Sri Lanka, although Dr Wang said the reduction of investment in Egypt should not be seen as a long-term trend.

Rachel Ziemba, founder of New York-based geo-economic advisory firm Ziemba Insights, agreed. She also speculated that increased investment by Gulf countries in Egypt might have had an impact.

“It is possible that the significant investment [by Gulf countries] may be adding to prices for Egyptian infrastructure, which may be causing Chinese investors to press pause,” she said.

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