There are going to be bumps in the road, especially a road as grand as China’s envisioned New Silk Road. From Tyler Durden at zerohedge.com:
It was supposed to be China’s day of celebrating massive infrastructure spending for the sake of spending (read ghost towns, only now outside China’s borders) as Xi Jinping pledged $124 billion on Sunday for his new Silk Road plan to forge “a path of peace, inclusiveness and free trade” while calling for the abandonment of old models based on rivalry and diplomatic power games. However, it did not go quite as smoothly as expected.
A celebration years in the making, Xi hosted dozens of world leaders – including a piano-playing Vladimir Putin – on Sunday for the country’s biggest diplomatic showcase of the year, touting his vision of a new “Silk Road” that opens trade routes across the globe. Xi used the summit to “bolster China’s global leadership ambitions” as U.S. President Donald Trump promotes “America First” and questions existing global free trade deals.
After scoring 2 hat tricks in Sochi, Putin returns to Moscow where he places 1st in annual Van Cliburn competition
In total, leaders from 29 countries attended the forum, including some of China’s close allies and partners such as Russian President Vladimir Putin, Cambodian Prime Minister Hun Sen, Kazakh President Nursultan Nazarbayev, Turkey’s quasi-dictator Tayyip Erdogan, as well as the heads of the United Nations, and the CapEx leeches from the IMF and World Bank.
“We should build an open platform of cooperation and uphold and grow an open world economy,” China’s president Xi told the opening of the two-day gathering in Beijing.