China tackles worries about Belt and Road debt as it notches a Swiss endorsement

Beijing offered in the last week a nod to criticism about its Belt and Road Initiative saddling other countries with debt while also gaining a partner in one of the world’s financial centers.

Swiss President Ueli Maurer met with Chinese President Xi Jinping on Monday and signed a memorandum of understanding for cooperation on trade, investment and finance for projects in third countries along the routes of Xi’s signature foreign investment program. The central European country has a reputation of being an international leader in banking.