Chinese exports plunge 25% in February:
Chinese exports have seen their sharpest drop in almost seven years, adding to concerns over the health of the world's second largest economy. The weak data comes on the heels of Beijing registering the slowest economic growth in 25 years. Ref. Source 4b.
China pledges $124 billion for new Silk Road as champion of globalization. China pledged $124 billion on Sunday for his new Silk Road plan to forge a path of peace, inclusiveness and free trade, and called for the abandonment of old models based on rivalry and diplomatic power games. Ref. Source 9g.
I love this, from the country that is the number one currency manipulator on the planet. They keep the value of their currency pegged a level just below the dollar so they can compete at an advantage when they sell their products… and now they are going to forge a path of peace, inclusiveness and free trade? Yeah, free as long as it's advantageous to them, inclusive as long as we don't talk about the rights of Taiwan and Tibet, and peaceful as long as we don't try to enter a sea zone they claim that goes against all norms of international law. If they want the abandonment of old models based on rivalry and diplomatic power games they should look to themselves first.
China's 'New Silk Roads' Reach Latin America By Pepe Escobar. Last year, Chinese banks and institutions invested US$23 billion in Latin America - the biggest surge since 2010. Source 1w.