Brussels: European Union launches antidote to China’s global economic impact The European Union (EU) has proposed a 300 300 billion global investment plan.
Ursula Vaughan, President of the European Commission, has released the details. China has won all the world’s rail, road and port contracts. Chinese tenders and loans are squeezing nations like an owl. Many countries have ceded their ports and airports to China because of heavy debt. The European Union’s investment plan is an alternative.
Ursula said the project would be a great success if it had the unconditional cooperation of European member states. The money will be made available to the world in the form of loans for financial institutions, development and construction activities. The European Union believes that this will be a solution to China’s economic and power domination.