AMBITIOUS DREAMS: China’s Silk Road Fund
Analyzing demographics, technology and GDP growth, China is economically positioning itself for the next decade. In October 2014, China-backed Asian Infrastructure Investment Bank (AIIB) was revealed to the public, a possible counterweight to the Asian Development Bank (ADB) and World Bank. The AIIB is working on its articles of agreement, targeted for completion by the end of 2015.
The government of China officially launched The Silk Road Fund Co Ltd, a US$ 40 billion vehicle to begin the expansion of transportation infrastructure, connecting Asia to Europe – essentially a new Silk Road. The road will start in Xian (Shaanxi, China), pass through Central Asia and end in Venice, Italy. The other part of the project is the 21st Century Maritime Silk Road which starts in Quanzhou (Fujian, China), goes through the Malacca Strait and stops in Nairobi, Kenya. From Kenya, the path goes up to Venice, Italy. The Silk Road Fund and the total project, One Belt One Road initiative, has been touted by Chinese President Xi Jinping. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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