Chinese Belt & Road Initiative (BRI) is passing through a difficult phase because of the US-sponsored and instigated new world (dis-)order, the aggressive push for economic protectionism and the ongoing trade and tariff war, especially against China and its allies.

Nevertheless, the BRI and Xi Jinping’s four global initiatives of development, security, civilization and governance are striving hard to create and maintain strategic balance against US capitalism, which has now decayed, as reflected in the declassification of the Epstein Files, exposing the hollowness of its so-called modern financial system. Thus, the blessings of the BRI confront the moral rot in US capitalism, particularly in Latin America, Africa and the Asia-Pacific.

Unfortunately, the Epstein Files have badly exposed the unholy alliance between greedy politicians and businessmen in the US system, dominated by cartels and cronies. Ultimately, the concentration of wealth has remained static and systematically tilted towards influential politicians, manipulated economists, mysterious financial corporations and corrupt industrialists, harming numerous sectors of the macro-economy. Their global outreach has destroyed the fabric of economic globalization, a just trading system and, last but not least, the fair and free movement of commodities by attacking Venezuela, threatening Brazil, Cuba and Peru and propagating false notions of decoupling, delinking and overcapacity regarding China and many other countries around the globe. Hence, Epstein has become a symbol of the profound moral bankruptcy of American financial capitalism in its search for undesirable means to compete in international markets.

On the other hand, the BRI and Xi’s global initiatives are based on shared prosperity, equality,........

© Pakistan Observer