Today we write to you from the Grand Hyatt Melbourne, where The Australian Tribune’s publisher, Port Phillip Publishing, is hosting the Paradox of Prosperity conference.
Our second speaker, Tim Murray, had some shocking insights into China’s global political and economic ambitions.
Tim, co-Founder of J Capital, has lived in China for 20 years, as well as attending university there.
And he gave a fascinating speech on China’s economic balancing act. As well as China’s enormous debt that continues to mount, year after year.
And while the solution would usually come from market forces, this isn’t possible for China.
But the real bombshell came when an audience member asked him for his thoughts on China’s ‘one belt one road’ initiative.
China’s intent with the initiative, as reported by the ABC, is that:
‘China wants to revive an ancient network of land and ocean silk trade routes and has already spent billions of dollars on new infrastructure projects for roads, railways, ports and maritime corridors.’
Is it just a facade?
But Tim Murray has a different view. He stated:
‘The “belt and road” is a complete figment of everyone’s imagination.
‘The reason I say that with such confidence is because we speak to steel manufacturers, steel exporters, steel traders. It’s not happening.
‘The belt and road is a political scheme, to cover the growth of China’s political control over its neighbours. Actual construction is very small.’
It would be silly of us to just brush this off. In the last few months, Australia has been accusing China of white elephanting the Pacific nations. It’s given us all here at The Australian Tribune something to think about.
To hear more of Tim Murray’s insights into China, and other speakers such as Marc Faber, Vern Gowdie, Sam Volkering, Gerard Minick, Phil Anderson and many more, you would have had to attend the conference. But don’t worry if you missed out. You can still secure a ‘digital seat’ with the video, audio and text recordings of every single speech, which will be available soon after the conference. Click here to find out more.
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