China is winning a global infrastructure war that most Americans don’t even know is being fought. Over the past decade, Beijing has poured hundreds of billions of dollars into roads, ports, railways, and power plants across Africa, the Balkans, and beyond through its Belt and Road Initiative.
The pitch sounds generous. The reality is a debt trap: host countries borrow at steep terms, surrender strategic assets when they can’t repay, and watch Chinese workers build Chinese-designed projects using Chinese materials. China builds a port in Sri Lanka, for example, the country defaults, and suddenly Beijing controls a strategic node in the Indian…
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