Joining the Marshall Plan of the 21st century?

CERTAIN experts begrudge China of looming superpower status because its economic ascendancy is state-led and at the expense of political and individual freedoms. They ignore the fact that the Soviet Union was accorded superpower status without it ever passing such criteria. What seems to be more germane is the possession of massive resources translated into a superior military and economic posture enabling a country to exercise a critical influence in world affairs.

China has not only undertaken a phenomenal military buildup of late but its recent unveiling of economic and development assistance programs of unparalleled magnitude for the Asian region and the Third World leaves little doubt that superpower China is almost here, nearer than anybody thinks. Negotiations are reportedly ongoing for the establishment of an Asian Infrastructure Investment Bank, led by China, which, with the already setup China Development Bank could overshadow the Bretton Woods and regional development and financing institutions.