Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day.

The economy and markets are "under surveillance". Bloomberg Surveillance, covering the latest news in finance, economics and investments.

We take a look at China's international projects and what they mean for the rest of the world. China is investing in and developing projects across the world - how are those moving forward and are they on course to deliver China's goal of becoming the primary global power by 2049.

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Billionaire Manuel Villar plans to begin developing and pre-selling properties in 44 so-called townships within a year, in a shift away from low-cost homes that helped him become the richest tycoon in the Philippines.

The mixed-used projects, located in 23 cities and with a combined area of 1,438 hectares, could boost Vista Land & Lifescapes Inc. worth, which should be three times its current value, said Villar, 72 and the company’s founder and chairman. Developing a hectare in the townships could cost 1.36 billion pesos ($26 million), he said in a briefing Thursday.