"NEW YORK – China’s exports to the largest economies of the Global South have nearly doubled from pre-Covid levels to a seasonally-adjusted US$70 billion in June 2022 from $38 billion in June 2019.

Several factors have impelled the surge in Chinese exports, but the most important impulse comes from China’s strategic investment in digital and physical infrastructure, ranging from broadband networks in Indonesia and Brazil to power plants in Turkey and railways in Southeast Asia.

As Western nations question the benefits of globalization, China has become the world’s leading globalizer.

.... Half a billion people in neighboring countries now depend on Chinese technology for communications, data processing and logistics, providing China with a nearly limitless source of young workers for its industries and an ever-expanding export market.

For China, economic outreach to the Global South is key to breaking through American efforts to contain China’s drive for economic predominance. China, wrote the influential “Observer” columnist Chen Feng on July 28, “has to solve the problem of generating its own independent growth momentum, after breaking through the critical point of the ‘Matthew Effect,’” the economic maxim that rich countries get richer and poor countries get poorer.

“America’s comprehensive and unlimited anti-China campaign can slow down China’s development, at the cost of a greater deceleration of the United States. But China is not only putting in place a dual cycle,” that is, promoting domestic consumption as well as exports,” Chen added. “China also divides the external [export] cycle into two sub-cycles: Europe and the United States on one hand, and the Belt and Road/Asia, Africa and Latin America on the other.”

China’s multi-trillion dollar Belt and Road Initiative (BRI) has gestated with limited apparent returns for nearly a decade. What we observe in the trade data suggests that China’s investments are paying off in most of the developing world.

Western policymakers have been looking in the wrong direction. China’s trade with the Global South plus South Korea and Taiwan is now as large as its combined exports to the United States and Europe.

This is by far the most important event in the world economy since the rise of China itself. The populations of the developing world are dwindling at a faster rate in high-income Asia than elsewhere. The scarcest resource in the world is young workers who have enough education to enter the world economy.

When Deng Xiaoping began his reforms in 1979, China’s per capita GDP was less than $200 and just 3% of adults had tertiary education. China’s message to the countries of the Global South is: You can grow like we did, if you let us build your infrastructure, install your digital economy, construct your factories, hire your workers and sell you our products.

In Vietnam, Indonesia, Mexico, Turkey, Brazil and a dozen other developing countries, political leaders have taken China’s offer."

https://asiatimes.com/2022/07/sino-forming-of-global-south-passes-point-of-no-return/

On Saturday, July 30, 2022 at 8:59:07 PM UTC+8, ltlee1 wrote:
> "NEW YORK – China’s exports to the largest economies of the Global South have nearly doubled from pre-Covid levels to a seasonally-adjusted US$70 billion in June 2022 from $38 billion in June 2019.
>
> Several factors have impelled the surge in Chinese exports, but the most important impulse comes from China’s strategic investment in digital and physical infrastructure, ranging from broadband networks in Indonesia and Brazil to power plants in Turkey and railways in Southeast Asia.
>
> As Western nations question the benefits of globalization, China has become the world’s leading globalizer.
>
> ... Half a billion people in neighboring countries now depend on Chinese technology for communications, data processing and logistics, providing China with a nearly limitless source of young workers for its industries and an ever-expanding export market.
>
> For China, economic outreach to the Global South is key to breaking through American efforts to contain China’s drive for economic predominance. China, wrote the influential “Observer” columnist Chen Feng on July 28, “has to solve the problem of generating its own independent growth momentum, after breaking through the critical point of the ‘Matthew Effect,’” the economic maxim that rich countries get richer and poor countries get poorer.
>
> “America’s comprehensive and unlimited anti-China campaign can slow down China’s development, at the cost of a greater deceleration of the United States. But China is not only putting in place a dual cycle,” that is, promoting domestic consumption as well as exports,” Chen added. “China also divides the external [export] cycle into two sub-cycles: Europe and the United States on one hand, and the Belt and Road/Asia, Africa and Latin America on the other.”
>
> China’s multi-trillion dollar Belt and Road Initiative (BRI) has gestated with limited apparent returns for nearly a decade. What we observe in the trade data suggests that China’s investments are paying off in most of the developing world.
>
> Western policymakers have been looking in the wrong direction. China’s trade with the Global South plus South Korea and Taiwan is now as large as its combined exports to the United States and Europe.
>
> This is by far the most important event in the world economy since the rise of China itself. The populations of the developing world are dwindling at a faster rate in high-income Asia than elsewhere. The scarcest resource in the world is young workers who have enough education to enter the world economy.
>
> When Deng Xiaoping began his reforms in 1979, China’s per capita GDP was less than $200 and just 3% of adults had tertiary education. China’s message to the countries of the Global South is: You can grow like we did, if you let us build your infrastructure, install your digital economy, construct your factories, hire your workers and sell you our products.
>
> In Vietnam, Indonesia, Mexico, Turkey, Brazil and a dozen other developing countries, political leaders have taken China’s offer."
>
> https://asiatimes.com/2022/07/sino-forming-of-global-south-passes-point-of-no-return/

Not only economic of no return to the US and Europe, but also political of no return for the US and EU, too. More countries having seen the bullying by US and EU had began to reflect their own policies on them, too. If the alternative financial transaction trading system is available, they will switch to using it in order to be sanctioned by the Suift financial system used by US to control the world's financial system now.

On Saturday, July 30, 2022 at 8:59:07 PM UTC+8, ltlee1 wrote:
> "NEW YORK – China’s exports to the largest economies of the Global South have nearly doubled from pre-Covid levels to a seasonally-adjusted US$70 billion in June 2022 from $38 billion in June 2019.
>
> Several factors have impelled the surge in Chinese exports, but the most important impulse comes from China’s strategic investment in digital and physical infrastructure, ranging from broadband networks in Indonesia and Brazil to power plants in Turkey and railways in Southeast Asia.
>
> As Western nations question the benefits of globalization, China has become the world’s leading globalizer.
>
> ... Half a billion people in neighboring countries now depend on Chinese technology for communications, data processing and logistics, providing China with a nearly limitless source of young workers for its industries and an ever-expanding export market.
>
> For China, economic outreach to the Global South is key to breaking through American efforts to contain China’s drive for economic predominance. China, wrote the influential “Observer” columnist Chen Feng on July 28, “has to solve the problem of generating its own independent growth momentum, after breaking through the critical point of the ‘Matthew Effect,’” the economic maxim that rich countries get richer and poor countries get poorer.
>
> “America’s comprehensive and unlimited anti-China campaign can slow down China’s development, at the cost of a greater deceleration of the United States. But China is not only putting in place a dual cycle,” that is, promoting domestic consumption as well as exports,” Chen added. “China also divides the external [export] cycle into two sub-cycles: Europe and the United States on one hand, and the Belt and Road/Asia, Africa and Latin America on the other.”
>
> China’s multi-trillion dollar Belt and Road Initiative (BRI) has gestated with limited apparent returns for nearly a decade. What we observe in the trade data suggests that China’s investments are paying off in most of the developing world.
>
> Western policymakers have been looking in the wrong direction. China’s trade with the Global South plus South Korea and Taiwan is now as large as its combined exports to the United States and Europe.
>
> This is by far the most important event in the world economy since the rise of China itself. The populations of the developing world are dwindling at a faster rate in high-income Asia than elsewhere. The scarcest resource in the world is young workers who have enough education to enter the world economy.
>
> When Deng Xiaoping began his reforms in 1979, China’s per capita GDP was less than $200 and just 3% of adults had tertiary education. China’s message to the countries of the Global South is: You can grow like we did, if you let us build your infrastructure, install your digital economy, construct your factories, hire your workers and sell you our products.
>
> In Vietnam, Indonesia, Mexico, Turkey, Brazil and a dozen other developing countries, political leaders have taken China’s offer."
>
> https://asiatimes.com/2022/07/sino-forming-of-global-south-passes-point-of-no-return/

The limited return from the BRI will improve when the pandemic in those countries is under control and when economy is back in full operations and people in the country are fully back to work.

BRI are infrastructure projects that will provide very long term returns to its investment loans to those countries. BRI is indeed a multi-trillion dollar initiative that will benefit poor countries which lack funds and expertise and capabilities to run them, too.

BRI is a very high growth high capital initiative with sustainable long term cross-benefit returns for the host country, China and for the receiving BRI countries in the many years to come. As they said here: "You can grow like we did, if you let us build your infrastructure, install your digital economy, construct your factories, hire your workers and sell you our products".

Given time, such infrastructures will still be there to serve the needs and will benefit masses of people and businesses in the country. The ebb and flow of the BRI economies in those countries will continue to arise from time to time due to different confluences in the connected country. But overall, it will still give continuity in ebb and flow of economy across those countries.