Why the New Silk Roads Terrify Washington

By Pepe Escobar and cross-posted from Counterpunch.org

Almost six years ago, President Putin proposed to Germany ‘the creation of a harmonious economic community stretching from Lisbon to Vladivostok.’

This idea represented an immense trade emporium uniting Russia and the EU, or, in Putin’s words, “a unified continental market with a capacity worth trillions of dollars.”

In a nutshell: Eurasia integration.

Washington panicked. The record shows how Putin’s vision – although extremely seductive to German industrialists – was eventually derailed by Washington’s controlled demolition of Ukraine.

Three years ago, in Kazakhstan and then Indonesia, President Xi Jinping expanded on Putin’s vision, proposing One Belt, One Road (OBOR), a.k.a. the New Silk Roads, enhancing the geoeconomic integration of Asia-Pacific via a vast network of highways, high-speed rail, pipelines, ports and fiber-optic cables.

In a nutshell: an even more ambitious version of Eurasia integration, benefiting two-thirds of the world population, economy and trade. The difference is that it now comes with immense financial muscle backing it up, via a Silk Road Fund, the Asian Infrastructure Investment Bank (AIIB), the BRICS’s New Development Bank (NDB), and an all-out commercial offensive all across Eurasia, and the official entry of the yuan in the IMF’s Special Drawing Rights; that is, the christening of the yuan as a key currency worth holding by every single emerging market central bank.

At the recent G20 in Huangzhou, President Xi clearly demonstrated how OBOR is absolutely central to the Chinese vision of how globalization should proceed. Beijing is betting that the overwhelming majority of nations across Eurasia would rather invest in, and profit from, a “win-win” economic development project than be bogged down in a lose-lose strategic game between the US and China.

And that, for the Empire of Chaos, is absolute anathema

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