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One Belt One Road project: China to spend $500 billion to reshape the world in its image
May 12, 2017
- 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.”
