After a long absence of conciliatory diplomacy especially with the West, Chinese leader Xi Jinping seems to have finally embarked on a charm offensive.
Beijing's goal is to create a virtuous cycle that improves its international standing, stimulates its economy by attracting foreign investment and increases other countries’ economic dependence on China.
This is but a short-term approach to addressing China’s economic woes. To understand what is really going on, we must take a broad, long-term view without being misled by Xi’s narrative.