China's Belt and Road Initiative (BRI)—the vision of a new Silk Road of infrastructure to stimulate and reduce the cost of intercontinental commerce—has met challenges in implementation. Recipient countries hosting BRI infrastructure projects are reassessing the implications of sovereign indebtedness and geopolitics. Investor and creditor countries (including GCC countries and the US) are devising attractive alternatives to build public infrastructure. China is striving to change the BRI narrative from strategic influence to inclusion and shared prosperity. These developments affect the calculus for developing and emerging economies, and for companies in such countries. If the US contribution competes with China's, alternatives may be desirable. Collaboration may help recipient countries take advantage of a wider choice of partners, thus ensuring fair, sustainable infrastructure deals. These topics warrant a brisk debate on redefining BRI to benefit developing and emerging economies.