"...In festive spirit, Xi announced that China would set up a $1 billion trust fund to be dispersed over ten years to ‘support the UN’s work’ and ‘contribute more to world peace and development’.
So began the Peace and Development Trust Fund, one of China’s more insidious projects to co-opt the UN, its logo and its global networks. On Xi’s watch, China has become the second-largest contributor to the UN General Assembly and Peace-keeping budgets, secured the fawning allegiance of the World Health Organization and taken charge of four other specialized UN agencies.
...Not that the $1 billion promised by Xi ever fully materialized.
By the time the deal was signed in 2016, China had arranged a big discount for itself, downsizing the gift to $200 million over 10 years, or $20 million a year...Read all.
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