Risk Sharing of Political Force Majeure in PPP Projects in the Belt and Road

Abstract

This paper identifies 12 political force majeure events through analysis the documents and literatures, and then classifies 8 key events. It is found that the risk allocation of most events is inconsistent by comparing and analyzing the risk allocation results of key events. This paper concludes that the risk allocation should be determined according to the specific circumstances on the basis of following the basic principles.