China Paves Way to Global Dominance Resting on US Marshall Plan

While the US and Europe focus their efforts against the spread of Islamic State, China is skillfully mastering its way towards dominance in the global economy; the pattern is very similar to that of the Marshall Plan the US applied in Europe in the post-WWII years to counteract the Soviet influence, according to a French economist.

China is paving its way to dominance in the global economy very much based on the Marshall Plan the US used in Europe in the post-WWII years, French economist and lecturer in economics at the Pierre Mendes-France University in Grenoble Mylène Gaulard said in her interview with the Atlantico news website.

Gaulard explained that, similar to the US in Europe, China is now conquering foreign markets and gaining control over the developing countries of the South Asia. Continue reading

World heading for financial crisis worse than in 2008 — China’s Dagong rating agency head

BEIJING, February 4. /TASS/. The world economy may slip into a new global financial crisis in the next few years, China’s Dagong Rating Agency Head Guan Jianzhong said in an interview with TASS news agency on Wednesday.

“I believe we’ll have to face a new world financial crisis in the next few years. It is difficult to give the exact time but all the signs are present, such as the growing volume of debts and the unsteady development of the economies of the US, the EU, China and some other developing countries,” he said, adding the situation is even worse than ahead of 2008.” Continue reading

China’s Silk Road strategy ‘draws interest from over 50 countries’

China’s initiative to build the Silk Road economic belt and the 21st century maritime Silk Road has received interest from more than 50 countries, an official said Saturday. Continue reading

BRICS bank: 5 emerging powers to announce alternatives to IMF, World Bank

WASHINGTON — Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.

Brazil, Russia, India, China and South Africa –the so-called BRICS countries — are seeking “alternatives to the existing world order,” said Harold Trinkunas, director of the Latin America Initiative at the Brookings Institution.

At a summit Tuesday through Thursday in Brazil, the five countries will unveil a $100 billion fund to fight financial crises, their version of the IMF. They will also launch a World Bank alternative, a new bank that will make loans for infrastructure projects across the developing world.

The five countries will invest equally in the lender, tentatively called the New Development Bank. Other countries may join later. Continue reading

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