The West is deluding itself over the extent of China's growth

There seems no end to the steady stream of highly significant economic and political developments these days. We live in incredible times.

Yet of all the events I followed last week, of all the data sifted and news wires perused, one story really grabbed me. Although I read it alone, it still elicited an audible "wow!"

China is in "advanced talks" with the Colombian government to build an alternative to the Panama canal. The mooted 220km rail link would run from the Pacific to a new port near Cartagena on Colombia's Atlantic coast. Imported Chinese goods would be assembled for re-export through the Americas and beyond, with Colombia-sourced raw materials filling ships making the return journey to Asia. Beijing is now reaching very high, pushing China onwards to the zenith of its modern-day power.

Read the rest here.