China is paving the world

China's new development bank, the Asian Infrastructure Investment Bank (AIIB), has approved its first four projects. They are:

• Infrastructure upgrade in the slums of 154 Indonesian cities (co-financed with World Bank)
• Expand and improve electricity access to Bangladeshis
• Rehabilitate roadway from Dushanbe in Tajikistan to Uzbek border 5 km away (co-financed with European Bank for Reconstruction and Development)
• 64km 4-lane motorway between two cities in Pakistani Punjab (co-financed with Asian Development Bank(Japan))

There's also been a lot of talk about the One Belt, One Road initiative, whereby China is trying to revive the Silk Road, connecting Europe (and Africa) with Asia by land and sea. The number and scope of proposed projects are staggering.