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During 2016, China sought to expand its global footprint in particular by promoting “One Belt, One Road” (OBOR) projects. The OBOR initiative is an economic and diplomatic strategy of the People’s Republic of China (PRC) in a stage of a “new normal.” It is also designed to serve Chinese diplomatic strategy by contributing to reform in global governance. In addition, China conspicuously sought to promote its comprehensive ties to other countries during 2016 through summit diplomacy that included provision of infrastructure and financing. The China-led Asian Infrastructure Investment Bank (AIIB) opened for business in January of the same year.
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