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

The Middle East could be heading for a game-changing implosion. US bond yields are surging and Western central banks, despite growing tension within their ranks, remain in ostrich mode.

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 more