China has launched an extremely ambitious infrastructure project costing $ 1 trillion over 4 years spanning 60 countries. This 'One Belt One Road' project is expected to employ millions of Chinese labourers in multiple countries.
China has figured that that it is sitting on the infra tiger and it cannot afford to get off lest its unemployment problem should go out of hand. This biggest infrastructure project ever attempted will certainly pose expected and unexpected problems. If China were a democracy, this would not have taken off.
This is an opportunity for China to offload a part of its huge forex kitty. In the process, many Asian and African countries are also forced to spend large sums of money. Social friction in many nations will be unavoidable. It will be interesting to watch how China executes this massive project.
China has figured that that it is sitting on the infra tiger and it cannot afford to get off lest its unemployment problem should go out of hand. This biggest infrastructure project ever attempted will certainly pose expected and unexpected problems. If China were a democracy, this would not have taken off.
This is an opportunity for China to offload a part of its huge forex kitty. In the process, many Asian and African countries are also forced to spend large sums of money. Social friction in many nations will be unavoidable. It will be interesting to watch how China executes this massive project.
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