China’s Marshall Plan in the Making?

From Economic Observer Online:

A major shakeup of China’s export strategy is taking place. The country is considering altering its focus and may attempt to “create” more external demand by extending loans to trading partners.

The Economic Observer learned that the Ministry of Commerce (MOFCOM) had held numerous meetings recently to mull over new means and markets to spur plummeting following the global financial crisis.

In view of slower demand from the economically wounded US and EU markets – China’s top export destinations – China would now actively explore the full potential of its neighbours and developing countries in Africa, Asia and South America.

The Ministry was even contemplating extending soft loans to developing countries in order to boost their capacity to purchase Chinese exports.

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