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Economy

China pushing 'build now, pay later' model to emerging world

During the last couple of years, China has pushed a number of grandiose proposals that could make it the world's largest lender for development projects.

     The most recent is the Asian Infrastructure Investment Bank, which aims to become the first global institution headquartered in China. China will be the largest contributor to an AIIB that will be capitalized at no less than $100 billion. Two other initiatives are a $40 billion fund to revive economic relations along the old Silk Road and the New Development Bank, also known as BRICS Bank, which has another $100 billion in capital and is also headquartered in China.

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