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From a correspondent foundation for the defensive democracy, very helpful facts.

There are now some 240 billion dollars worth of loans out there, both principal, the initial loans,

and the emergency loans made by China to roll over the initial loans that are not being serviced.

One of them in particular, I believe, illustrates the failure of the Chinese business plan, not only at home, but overseas, Ecuador.

Building a dam on the Coker River in Ecuador for a fragile state to begin with.

Building a dam that now has so many cracks in it they've stopped counting on the concrete,

and the walls of the reservoir are threatened to collapse, which would overwhelm the dam entirely.

We're looking at bad building, bad timing, bad placement, all by Chinese company that came in and built that wall,

and Ecuador has no way to repay the 2.7 billion that built the dam.

I use this as an outrageous example of Belt Road. It's a failure, Mary, and it's all on Xi Jinping,

but I do not see him paying a price worldwide.

Well, yeah, it is a failure in Ecuador's experience. It's not unique, John.

As we traveled the world talking to counterparts, we saw similar failed projects everywhere we went,

where we went, be it in Sri Lanka or in Ethiopia, you mentioned Ecuador.

So the failures are far and wide. The problem is that many of these countries didn't want to deal with China in the first place,

but the Chinese infrastructure companies were the only ones aggressively going into these poor nations and saying, hey, let us help you.

We'll build, for instance, in Senegal, the road from the airport into town, or we'll build the dam in Ecuador to help you.

And there were no competing beds from US and European bidders.

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