China announces new investment plans

From the International Report delivered to the CPGB-ML’s central committee on 3 December

China has announced that it will be spending £1.1tr over the next five years on developing green energy and clean technology hi-tech manufacturing.

In the meantime, the China Investment Corporation, China’s sovereign wealth fund, has announced plans for investment in UK infrastructure in the belief that this will bring “stable and sound financial returns”.

Osborne’s strategy for rescuing the economy now seems to revolve round spending some £30bn on infrastructure projects, for which purpose he is hijacking £20bn of pension funds, which will no doubt bear the brunt of any losses.

Projects to be included in Britain’s national infrastructure plan include upgrades to the M1 and M25 and new railway lines, including reopening an Oxford-Cambridge line that fell victim to the Beeching cuts.