China Pledges $40 Billion For New 'Silk Road'

[Purveyor]

Source: Associated Press

BEIJING

Chinese President Xi Jinping is promising $40 billion to help Asian nations improve trade links in a new effort to assert Beijing's ambitions as a regional leader.

Xi made the pledge in a meeting with leaders of Pakistan, Bangladesh and five other Asian nations ahead of this week's Asia-Pacific economic summit, state media reported Sunday.

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The latest effort, the "Silk Road Fund," will finance infrastructure and cooperation in industry and finance to link Asian economies, Xi said in the meeting Saturday with leaders of Bangladesh, Cambodia, Laos, Mongolia, Myanmar, Pakistan and Tajikistan.

"Efforts by a single or several countries are far from adequate," said Xi, according to China's official Xinhua News Agency. "Only by building extensive partnerships where all will think and work in unison can we expect to achieve positive results."

Read more here: http://www.miamiherald.com/news/business/article3674461.html#storylink=cpy

Read more: http://www.miamiherald.com/news/business/article3674461.html

[KG]

1. china is building infrastructure while ours is collapsing. usa, we're number one!

[Fred Sanders]

2. China is also building infrastructure throughout the world, using its wealth to attract nations,

rather than conquer them...winning hearts and minds....the imperial way of America is a loser.

[cosmicone]

3. Ask any Nuland you happen to see....

Cookies are cheaper than roads you see ...

[Odin2005]

4. China keeps on proving on right-wing idiots keep on denying.

That government intervention in the economy WORKS.

[cpwm17]

6. Welcome back!

I was wondering what happened to you.

[Lodestar]

5. A DU site search brings up posts about what the U.S." Silk Road Policy: has entailed for decades...

and seems to have been the outline for our current presence in the region as well as the Afghan war (quite apart from
the convenient theory of it being a response to 9-11). Hint - it was all about grabbing power and resources with the face
of goodwill.

[Cal33]

8. The Right Wingers ought to realize by now that their same old approach in taking advantage

of small nations rich in natural resources no longer fools anybody. I thought corporate execs.
were supposed to be smart. Can't they, at least, change their style -- if not their substance?

Maybe they think the rest of the world is just as smart as the American masses who
"vote Republican?"

[closeupready]

7. Okay, so this is why - just today - bitcoins are WAY up.

From $360/bitcoin to $425 currently.

I couldn't figure it out, as they were not moving much, and then I saw they went up, and I was mystified. No longer.