‘It’s a Mistake to Underestimate China’
The country’s massive infrastructure project is a blueprint for growth in the developing world.
.. Think of it as a hub-and-spoke model: China, the hub, builds infrastructure in countries around the world, the spokes, in order to facilitate trade. China is building roads, bridges, seaports, and airports in more than 60 countries to facilitate the import of raw material in order to further fuel its own economic growth while it searches for new markets.
.. Unlike the West, China offers cheap loans, doesn’t ask questions about human rights or the environment, and doesn’t export its political ideology.
.. China has a singular advantage: It is offering the countries where it is investing a vision for the future... it seeks to replicate what it has done within its own borders for the past three decades—investments that have helped lift more than 700 million people out of poverty and into the middle class. During that time, globalization has brought low-wage but steady jobs to China in sectors such as manufacturing.