What is the rationale behind President Biden's recent student debt relief announcement, who benefits and pays for it, and finally, what might be some unintended consequences from it?

A U.S. default would send a shock through the global economy and risk the credibility of the U.S. dollar.  It would also alarm U.S. allies while presenting a gift to its adversaries.

The economic impact of COVID-19 has exposed the underlying fragility of China’s Belt and Road Initiative (BRI) in Kenya, already the subject of scrutiny over corruption, pollution, and debt concerns. BRI fueled an ambitious infrastructure push in Kenya.