China’s Belt and Road Initiative (BRI) has garnered global attention as an ambitious infrastructure development initiative aimed at promoting connectivity and economic ties between China and countries in Asia, Europe, Africa, and beyond. However, numerous debates regarding the potential positive and negative outcomes associated with BRI projects and investments have received increasing attention by policymakers and researchers. Often narratives of debt-trap diplomacy, economic coercion, and strategic influence are juxtaposed against arguments of BRI providing needed infrastructure development and non-Western investment. This paper explores the impact of BRI investment on political, economic, and security outcomes within participating states. Specifically, we examine how BRI investments affect economic outcomes (debt burden and economic growth), political issues (corruption and strength of civil society) and security consequences (alliance formation and militarization). Our analysis uses data from BRI projects and other relevant causal factors to analyze how BRI projects can have a range of unforeseen consequences.