Facing a major debt crisis at home, China is ‘dumping’ billions of dollars abroad.
On Thursday, the Chinese regime leader Xi Jinping pledged to launch a special fund to bolster global development.
“China’s financial institutions will soon launch a special fund of $10 billion to implement the Global Development Initiative.”
Xi announced the plan on the final day of the BRICS summit in South Africa. The group is made up of Brazil, Russia, India, China, and South Africa.
The news comes as China is facing some of the worst economic hardship since the communist party took power in 1949.