China Lends Hand in Southeast Asia

CHIANG MAI - A new investment fund and loan package to help alleviate the impact of the global financial crisis for Association of Southeast Asian Nations (ASEAN) represents the latest overture of China's "soft power" campaign towards the region. Many believe the aid package unveiled in Beijing this month was strategically announced to steal a commercial and diplomatic march over the economically ailing United States.

The aid package includes a US$10 billion investment fund, geared for cooperation in infrastructure construction, energy and natural resources development, and improvements in information and communications.