World Economy: ‘China’s New Silk Road’ (Video)

The “New Silk Road” is an enormous Chinese international development project. It’s a trade network that involves Asia, Africa, and Europe — and more than 70 countries are already involved. It may turn the old world order upside down. China is investing in bridges, port facilities, railroads, and roads around the world. Beijing is spending several hundred billion euros on what it calls the “Silk Road Economic Belt.” Eastern European and the Balkan countries in particular are interested in Chinese loans and investments, as they look beyond the EU for sources of capital. In turn, the region is attractive to China because of its strategic position as a gateway to the West. A new coal-fired power plant is being built in Tuzla, Bosnia, with the help from China. But not everyone is in favor of the project. While the new plant will emit fewer emissions which will have a positive effect on air-quality, some question the country’s decision to commit to using coal for decades to come.

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