Bloomberg: China's Spending $500 Billion to Reshape the World in Its Image
* China-led economic order to top agenda at Beijing summit
* Xi pushes globalization as Trump puts ‘America First’
China is one of the few countries in the world today with money to spend, and Xi Jinping is ready to write some checks.
China’s president will host almost 30 world leaders in Beijing on Sunday at the first Belt and Road Forum, the centerpiece of a soft-power push backed by hundreds of billions of dollars for infrastructure projects. More than 100 countries on five continents have signed up, showing the demand for global economic cooperation despite rising protectionism in the U.S. and Europe.
For Xi, the initiative is designed to solidify his image as one of the world’s leading advocates of globalization while U.S. President Donald Trump cuts overseas funds in the name of “America First.” The summit aims to ease concerns about China’s rise and boost Xi’s profile at home, where he’s become the most powerful leader since Deng Xiaoping died in 1997.
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WNU Editor: In the past when countries did what China is doing now .... it was called colonisation/exploitation. The Chinese are not giving this money away .... there are going to be a lot of strings attached, and they will want a healthy return. Bloomberg is criticising President Trump's "America First" .... but this Chinese policy is the same thing .... only the technique and approach is different. In China's case .... they want these countries who become recipients of Chinese money to buy Chinese products and services .... and as to the idea of exporting goods and services to China .... I can hear the Chinese response now .... "don't keep your hopes up".