Readers of this blog will know already of the Asian Highway network that inter-links ‘new’ Silk Roads all the way from Tokyo to Europe and has Chinese trade as a major beneficiary. But what not so many people have yet grasped is the extraordinary speed with which China is building transport links on a truly global scale. Word reaches me that Chinese road engineers are busy in South America, Africa and the Middle and Far East looking to put a system together that will be secure from blockades and military pressure. Then there are across-Asia railway lines, plans for a canal through Nicaragua, deep sea ports in Malasia and Pakistan, and a cargo-rail route from Yiwu to Madrid.

Where's it all leading? To the rich markets of the West, one presumes, just when the European economies are expecting to flourish again after several years in the doldrums. A bit of smart timing that, you might say.