This should be a global effort funded by democratic countries including the EU, North America, Britain, and maybe even India. The point is to keep the world from fracturing into hands of this sort of pseudo-fascism and capitalist-liberalism. The more I see the sorts of moves China is making, the more I feel that we're heading into a new sort of Cold War and America seems to be sitting back letting it happen rather than actively attempting to contain it... because it seems that they can't actually afford to do so.

That was the intent behind UN and League of Nations before that. Any new similar thing like will end up just like that - a beurocratic monstrosity that lacks any moral authority and is used as a pawn in realpolitik games.