[Economic]
Why China Is Running Circles Around America
by Ellen Brown
Posted March 5, 2018

China is running circles around US“One Belt, One Road,” China’s $1 trillion infrastructure initiative, is a massive undertaking involving highways, pipelines, transmission lines, ports, power stations, fiber optics and railroads connecting China to Central Asia, Europe and Africa. According to Dan Slane, a former adviser in President Trump’s transition team, “It is the largest infrastructure project initiated by one nation in the history of the world and is designed to enable China to become the dominant economic power in the world.” In a Jan. 29 article titled “Trump’s Plan a Recipe for Failure, Former Infrastructure Advisor Says,” he added, “If we don’t get our act together very soon, we should all be brushing up on our Mandarin.”

On Feb. 12, Trump’s own infrastructure initiative was finally unveiled. Perhaps intending to trump China’s $1 trillion megaproject, the administration has now upped the ante from $1 trillion to $1.5 trillion, or at least that’s how the initiative is billed. But as Donald Cohen observes in The American Prospect, it’s really only $200 billion, the sole sum that is to come from federal funding. More…