The Chinese program 'One Belt One Road' has led to bankruptcy of nations through predatory lending and the seizing of vital infrastructure from sovereign nations as Beijing looks to expand its influence throughout Central Asia, Africa, and Europe. The examples are plentiful, like Kenya which is losing control of its main port in Mombassa due to default on loans made to Kenya Railways.
Now, in an ominous development, China is admitting the next phase of the project to be implemented will be about 'global governance'.
“There will be a shift away from ... hard infrastructure projects,” Tom Rafferty, principal economist for China at The Economist Intelligence Unit, said Friday. ”(The Belt and Road is) going to have a broader range," reported CNBC.
In fact, Rafferty said, the Chinese leader demonstrated that he sees the program “as a China global governance initiative.”
Chinese President Xi Jinping says in a speech that, through the Belt and Road Initiative, China would “strengthen cooperation in customs, taxation and audit oversight” and pursue cooperation on technological development, wrote CNBC.
The United States has pressured European allies to be wary of Chinese lenders bearing gifts but the caution has been thrown to the wind on The Continent as Italy, and many of the Balkan countries are moving forward with Beijing's plans and accepting funds for infrastructure development.
The Trump administration has also warned against using Chinese 5G equipment made by Huawei but again the warnings have fallen on deaf ears as Europe looks to snub Trump while destroying its security. French President Macron declared last year that Europe needs to raise an army to protect against the United States. Perhaps they believe that if Chinese control extends over Europe the U.S. will bail them out again.
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