China will inject $55 billion in loans and investments to the Middle East

China will inject $55 billion in loans and investments to the Middle East, announced Chinese president Xi Jinping in his most recent tour to the region. The world’s second largest economy plans to allocate USD $15 billion for renewable energy and infrastructure projects in the region, in addition to USD $10 billion in commercial loans to enhance energy cooperation. With interests spanning politics, economics, and power, China aimins to actively increase its presence in the region, but without “setting up proxies or building a sphere of influence in the region,” according to Xi. 

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