China, ‘money bomb’ to Central Asian countries… 1.9 trillion won in special loans

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Chinese President Xi Jinping gives a speech at the China-Central Asian Summit held in Xi’an, China on the 19th. AP Newsis

China has brought out a ‘money bomb’ to attract Central Asian countries as allies. This move came right after the G7 summit strengthened pressure on China. There is an interpretation that China is preparing to respond to the G7 by using ‘China money’.

According to China’s state-run Xinhua News Agency on the 22nd, the National Development Bank, a Chinese policy bank, has prepared a special loan of 10 billion yuan (approximately 1.87 trillion won) for cooperation between China and five Central Asian countries. The funds will be used to support projects in the fields of trade, economy, investment, transportation, agriculture, energy resources and infrastructure between China and Central Asian countries. These countries include Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan. Previously, on the 18th and 19th, Chinese President Xi Jinping held a summit meeting with the presidents of these five countries in Xian, Shaanxi Province, and declared a strong partnership. “I expect that cooperation between China and Central Asia, which has a history of 1,000 years, will become even stronger,” Xi said.

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At the time, President Xi said in a keynote speech at the summit, “China will provide a total of 26 billion yuan (approximately 4.9 trillion won) in loans and grant aid for cooperation with Central Asian countries and support for their own development. ”he said. This special loan also appears to be part of Xi’s promise.

It is analyzed that China’s strengthening of relations with Central Asian countries has a strong ‘counter-fire’ character for the G7. The meeting itself took place right before the G7 summit, trying to distract attention from the G7. In addition, the content announced as a result of the meeting, “I oppose the color revolution and interference in internal affairs,” is an expression that China often uses when criticizing the United States and the West, including the G7 countries. The ‘color revolution’ refers to democratic protests that occur under authoritarian regimes.

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Experts believe that China is actively securing neighboring countries as allies in preparation for full-scale suppression of China by the US and the West. In this process, it seems that China is mobilizing a huge amount of ‘China money’.

Beijing =

Source: Donga

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