After the global financial crisis, Beijing led the world out of recession, courtesy of a vast stimulus plan that led to a ballooning of national debt, but also funded a host of projects deemed vital to its long-term interests.
This gave China belief it could build its way to success. To an extent, it did, carpeting the country with high-speed rail – though its plans to remodel global infrastructure, via the Belt and Road Initiative (BRI), have been somewhat derailed of late.
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