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
Last week, Russia invited Greece to become the sixth member of the BRICS New Development Bank.
MOSCOW (Sputnik), Daria Chernyshova — Greece could climb out of the debt hole created for it by International Monetary Fund (IMF) and the World Bank if it accepts Russia’s proposal to join the BRICS New Development Bank (NDB), Sofia Sakorafa, a member of the European Parliament from the Greek ruling Syriza party, told Sputnik on Monday. Continue reading
The announcement that major European powers will join the AIIB as founding members means the bank is now clearly accepted as a tangible game changer in the multilateral financial architecture. The formidable intentions of AIIB and the new transnational corridors project are both a challenge and an opportunity for India
China-promoted Asian Infrastructure Investment Bank (AIIB) has taken the world by surprise. AIIB, dismissed just a few months ago by western countries as another flamboyant plan by China, is now clearly accepted as a tangible game-changing development in the multilateral financial architecture. Continue reading
In fact, many commentators say the AIIB is less about anything wrong with the ADB or the World Bank and more about China’s efforts to increase its voice in global development and financial governance, and even to reshape the financial world order itself.
With Tuesday marking the deadline for nations wishing to join as “founding members” of the new multinational lender, here are the four things you need know about the AIIB… Continue reading
The United States has been quite vocal about its “pivot to Asia,” but as Washington seeks to further its influence in the Asia-Pacific, China has been quietly upping its own importance to Central and Latin America. Now China is making a push to further its engagement with countries in the Western Hemisphere, as evidenced by the announcement of a new dialogue mechanism. The Community of Latin American and Caribbean States (CELAC), which met in Cuba from January 28 to 29, adopted a statement announcing the establishment of a China-CELAC Forum. Continue reading
The United States faces a massive US$8 trillion infrastructure investment bill, and is courting Chinese investors since many of its own local governments are in financial difficulties, according to a US Chamber of Commerce report.
“The US is poised to undertake the most significant expansion and modernisation of its infrastructure since the 1950s,” the chamber said in its report.
“This is taking place in the context of significant pressure on federal and local budgets. The pressing need for capital to modernise US infrastructure is creating substantial new opportunities for Chinese investors.” Continue reading