A key official for China's central bank has formulated a bold policy similar to the Marshall Plan, which anchored the United States' dollar as the world's leading currency after the second world war.

China's production of green energy technology is being fiercely resisted high-cost manufacturers in the US and Europe. China should instead open markets for these products across the developing world, and thereby make put China in a similarly advantageous position as the postwar US, according to Huang Yiping of the Monetary Policy Committee.

China's central bank uniquely enjoys high levels of positive foreign exchange flows and low inflation. This allows its bank much more flexibility in helping its manufacturing sector, and these inflows can bankroll large public policy initiatives, such as Belt and Road.

Resources and links:

Solve China’s ‘overcapacity problem’ by helping developing nations go green, central bank adviser urges
https://www.scmp.com/economy/global-e...

US: Merchandise trade balance in China from 2013 to 2023
https://www.statista.com/statistics/2...

Japan trade deficit halves to 9.3 trillion yen in 2023 on record exports
https://english.kyodonews.net/news/20...

EU trade in goods with China
https://ec.europa.eu/eurostat/web/pro...

Council of Foreign Relations, China's foreign exchange reserves
https://www.cfr.org/blog/how-hide-you...

Image, role of central banks
https://www.strike.money/stock-market...

Investopedia, Marshall Plan

Closing scenes, Fanjing Shan Temple, Guizhou Province