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No Surprise, Chinese State Media Didn’t Think Much of PGII, But They Actually Raised a Few Interesting Points

HEADLINE TRANSLATION: "The G7 is going to raise $600 billion for a major project to "counter China." Where will the money come from?"

The Chinese nationalist tabloid Global Times was among the first to launch broadsides against the G7’s latest effort to challenge the Belt and Road. Predictably, the paper interviewed several scholars who all discredited the new program, but rather than simply dismiss it, as they often do, they raised a few legitimate critiques:

INTEREST RATES: An unnamed European studies scholar noted that this isn’t exactly the best time for both governments and businesses to raise huge amounts of money, given that interest rates are shooting up.

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