The Silk Road fund: a Chinese Marshall Plan for the world?

President Xi Jinping said on Nov 8 that China will contribute $40 billion to set up a Silk Road Fund to provide investment and financing support for infrastructure construction, industrial cooperation and other projects related to connectivity for countries along the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It will prompt China to further open up to the outside world and promote the common development of all economies. The fund will make overseas investments using the country’s “excessive deposits”, including foreign reserves.