One such program was the Belt and Road Initiative. Invoking the Silk Road, the caravan route of centuries past, the trillion-dollar plan sought to extend China’s influence by building ports, roads, bridges, railroads, and other projects across Asia, Africa, and beyond.

The plan quickly raised alarms in Washington and other Western capitals. Leaders feared China’s government would use the initiative as a stealth plan to expand its own military influence, to entrap poor nations by lending them money that they couldn’t repay, and to bind those nations in a Beijing-dominated sphere of influence. “These roads cannot be those of a new hegemony, which would transform those that they cross into vassals,” France’s president, Emmanuel Macron, said on a visit to China.