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Business News/ Opinion / Global Chinese
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Global Chinese

Chinese President Xi Jinping has said in a recent speech that China will invest around $1.25 trillion of capital globally over the next decade

Chinese President Xi Jinping. Photo: BloombergPremium
Chinese President Xi Jinping. Photo: Bloomberg

The iconic Waldorf Astoria in New York is owned by a Chinese businessman. That deal was closed in October. The Chinese government said this weekend that it plans to spend $40 billion to create a new Silk Route to link China with the Mediterranean area. Around $108 billion of capital left Chinese shores last year to seek investment opportunities.

This could just be the beginning. Chinese President Xi Jinping has said in a recent speech that China will invest around $1.25 trillion of capital globally over the next decade.

The decision can transform geopolitics. It also explains why China is so aggressively trying to back new multilateral lending agencies that could be headquartered in Beijing. The Indian government will need to adapt to this new reality: to what extent should it be open to Chinese investments and to what extent should it be wary of the resultant Chinese leverage over India?

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Published: 10 Nov 2014, 11:46 PM IST
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