I think that this article is excellent considering the fact that it comes from an energy financial analyst whose perspective is informed by global capitalist economics. Such a perspective, which is focused narrowly on profit opportunities, is typical of capitalist players in today's world. It may also explain why so many of the Empire's members have joined China's various projects.
The idea for reviving the New Silk Road was first announced in 2013 by the Chinese President, Xi Jinping. As part of the financing of the plan, in 2014, the Chinese leader also announced the launch of an Asian International Infrastructure Bank (AIIB), providing seed funding for the project, with an initial Chinese contribution of $47 billion.Consider also this interesting tidbit that I hadn't heard about before:
China has invited the international community of nations to take a major role as bank charter members and partners in the project. Members will be expected to contribute, with additional funding by international funds, including the World Bank, investments from private and public companies, and local governments.
Some 58 nations have signed on to become charter bank members, including most of Western Europe, along with many Silk Road and Asian countries. There are 12 NATO countries among AIIB´s founding member states (UK, France, Netherlands, Germany, Italy, Luxembourg, Denmark, Iceland, Spain, Portugal, Poland and Norway), along with three of the main US military allies in Asia (Australia, S. Korea and New Zealand).
The project is expected to take decades, with costs running into the hundreds of billions of dollars, if not trillions. What that will mean for the world economy and trade is almost inconceivable. Is it any wonder then, that the world’s largest hedge funds, like Goldman Sachs and Blackstone, are rushing to market new multi-billion dollar international infrastructure investment funds? [my emphasis]I have long considered a theory which could explain China's actions under the leadership of their Communist party. After the death of Mao, the ascendent Chinese Communist leadership decided that the only way to counter the aggressive hegemonic mammoth of the US Empire was to outperform them at their own game--capitalism. They would use capitalists' greed for short term profits to quickly develop China's economy and power in order to counter the Empire.
To implement this plan, they first had to permit and promote the establishment of Chinese private enterprises. The second step was to use their cheap and well-controlled labor force as a way to entice Western capitalist enterprises to move their operations to China and/or to use Chinese companies to manufacture their products. I don't know the details, but they also built into this project methods which permitted the transfer of Western technology to Chinese producers. In addition, they also used other less legitimate methods to obtain Western technological secrets. The inducements of great profits for Western capitalist enterprises was so great that they overrode any concerns about such technological and intellectual transfers. Also, contributing to this lack of concern was, I think, an inherent racist attitude about the Chinese and their lack of ability to offer any kind of threat to the Empire.
Now we are witnessing the results. The Chinese Communist party is embarking on a grand project to develop Eurasia using their highly developed capitalist engines, technology, and their accumulation of wealth. They are inviting others (and have succeeded) to join them in this development. Once again, we see capitalists from everywhere seeing the great opportunities for profits in this grand development project, and joining the Chinese organizations--they want to reap profit-rewards from this splendid project, and they don't care who runs the show!
Meanwhile, back at the Empire's ranch the hegemon's leaders are in a quandary. They have always relied on overwhelming military force to have their way in the world. By spending so much money on their military, subversive efforts, and proxy armies to enforce their will (guided by their global financial and industrial interests of power and profits), they now find themselves in this present predicament.
I've always had a lot of questions about this theory. What were the long term goals of China's Communist party besides securing their country from predations of the Empire? How could they not be subverted by this new capitalist class that they were creating?
Anyway, leaving the realm of this theory aside, I wonder where this will all end. In a nuclear war conflagration? Accelerating the degradation of the biosphere and the demise of the human race?
