China's Empire of Money is Reshaping Global Trade_1st Aug, 2018
China is building a new empire, one where trade and debt are leading the way instead of ships and soldiers.
Within a decade, it's estimated that Beijing and its foreign partners will spend as much as $1.3 trillion on railways, roads, ports, and power grids spanning five continents:
🇰🇪 In Kenya, China built and financed a new railway, the nation's largest infrastructure project in five decades.
🇵🇰 In Pakistan, an old fishing village named Gwadar is being developed into a city with a major port.
🇬🇷 Debt-plagued Greece sold control of the famous Pireaus port to a Chinese state-owned company.
But some of those involved in Xi Jinping's massive "Belt and Road" plan are starting to question the long-term costs of it all.