David Cameron is struggling to get his $1bn UK-China investment fund off the ground, as tensions rise between the two countries over Beijing’s Belt and Road Initiative, according to officials briefed on the fundraising effort.
The former British prime minister has been courting potential backers but he has yet to name major investors in either China or the UK, with big banks reluctant to get involved.
Theresa May, his successor in Number 10, travels to China this week amid signs that the so-called “golden era” between London and Beijing is being tarnished by disagreements over China’s overseas investment drive.
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