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China's Silk Road
Chinas Empire of Money Is Reshaping Global Trade
https://www.bloomberg.com/news/features/2018-08-01/china-s-empire-of-money-is-reshaping-lives-across-new-silk-road
Xi Jinpings new Belt and Road initiative is designed to promote economic development and extend Chinas influence. Bloomberg Markets reports on the massive projects impact along the Silk Road.
Bloomberg News
August 1, 2018, 4:00 PM CDT
From
China is building a very 21st century empireone where trade and debt lead the way, not armadas and boots on the ground. If President Xi Jinpings ambitions become a reality, Beijing will cement its position at the center of a new world economic order spanning more than half the globe. Already, China has extended its influence far beyond that of the Tang Dynastys golden age more than a millennium ago.
The most tangible manifestation of Xis designs is the new Silk Road he first proposed in 2013. The enterprise morphed into the Belt and Road initiative, a mix of foreign policy, economic strategy, and charm offensive that, nurtured by a torrent of Chinese money, is rebalancing global political and economic alliances.
Xi calls the grand initiative a road for peace. Other world powers such as Japan and the U.S. remain skeptical about its stated aims and even more worried about unspoken ones, especially those hinting at military expansion. To assess the reality of Belt and Road from the ground up, Bloomberg Markets deployed a team of reporters to five cities on three continents at the forefront of Chinas grand plan.
Quick take Chinas Silk Road
What emerges is a picture of mostly poor nationslaggards during the past half-century of global growththat jumped at the promise of Chinese-financed projects they hoped would help them catch up. And yet as some high-profile ones falter and the cost of their Chinese funding rises, would-be beneficiaries from Hambantota, Sri Lanka, to Piraeus, Greece, are questioning the long-term price. In Malaysia, one of the biggest recipients of Chinese investment in Southeast Asia, newly installed Prime Minister Mahathir Mohamad is pushing back. Expressing concerns about loan conditions and the use of Chinese labor that limit benefits to the local economy, hes put billions of dollars of Chinese-funded rail and pipeline projects on hold.....................................
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China's Silk Road (Original Post)
riversedge
Aug 2018
OP
appalachiablue
(41,156 posts)1. K & R. Vast, hard to fathom at this point, but in def. in the works.
Uncle Joe
(58,378 posts)2. China is in this for the long haul, not quarterly deadlines.
Thanks for the thread riversedge.