It was one of those forgettably historic moments at the United Nations. The year was 2015, the UN’s 70th anniversary, and China’s President Xi Jinping was in New York, speaking in person to the UN General Assembly. In festive spirit, Xi announced that China would set up a $1 billion trust fund to be dispersed over ten years to ‘support the UN’s work’ and ‘contribute more to world peace and development’.
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