In the past year, Chinese Super League clubs have spent 500 million dollars on transfer fees alone according to FIFPro. Wages for foreign players in the Chinese market are also sky high, putting Chinese clubs in direct competition with European clubs. This is thanks to a top-down approach to grow the game spearheaded by President Xi and the backers of Chinese Super League clubs, most of whom are large multibillion dollar real estate and technology Chinese companies (like Alibaba, Suining, Greenland Group, etc.)

This new spending spree by Chinese clubs has created resentment among European soccer fans who often claim that soccer players who play in Europe that leave to China in their prime only care about the money because according to recent history, China is a country lacking in soccer pedigree.

However, China has not shown any sign of stopping, even with its new foreign player cap rule, which limits the amount of foreign players on the pitch to three. So how will a heavily backed Chinese soccer market affect the global game?

1. Make the Club World Cup relevant again.

The Club Word Cup used to just be a tournament between the champions of South America and Europe until 2000 when the tournament format changed. Since then, The FIFA Club World Cup is a tournament lacking relevance. Every year the champions of Europe barely break a sweat as they dismantle the rest of the world (usually South America) during their respective winter breaks. With the newfound riches of Chinese clubs and a focus on youth development, the overall squad skill levels of Chinese and Asian clubs will rise.

2013 and 2015 Asian champions Guangzhou Evergrande finished 4th in the FIFA Club World Cup both times. Chinese clubs already are on the level of African and North American clubs (in terms of talent), the question is how long until they surpass South American clubs then maybe Europe. Signs have already shown the gap is thinning between Asia and South America. China is spearheading this shift.

2. Inflated Transfer Fees for "average" European & South American Talent

In the short term (until China's domestic player pool expands), Chinese clubs will continue to spend endless money on transfer fees in order to get fans in seats and raise the overall talent of their squads. Meaning, "average" players who play in Europe will continue to leave as agents, players, and owners look to profit on the Chinese football boom. Chinese clubs will continue to pay "outrageous" fees for players who play in Europe until the quality of the domestic player rises.

3. More partnerships between European clubs and Chinese investors

Chinese billionaires have already taken over notable European giants like Valencia, Aston Villa, Inter Milan, etc. Chinese investors even sponsor the second division of Portugal (The Ledman Liga).

Despite the large amount of Chinese money invested in European clubs, the Chinese Super League is currently lacks in partnerships with European leagues to develop talent. The Nigerian Professional Football League already has a partnership with La Liga and as a consequence Barcelona has already opened up an academy in Lagos.

There were some rumors floating around that Chinese investors were planning to use the Ledman Liga as a funnel for Chinese players to enter the European market but that looks unlikely now.

If Chinese players want to grow, they will need to test themselves in Europe because that is where the best soccer players still apply their trade. One of the best ways to do that is through partnerships with Europe's best clubs, who have the resources and "know-how" when it comes to developing talent.

4. Chinese Super League clubs used as a way to grow "soft power" in other regions around the world

China might be the second largest economy in the world but it currently lacks soft power (cultural influence). the United States still reigns supreme on the international stage when it comes to soft power.

Sports are a way of connecting people and no sport is better at that than soccer. Chinese Super League clubs if they become large enough in terms of financial might, have the potential to spread Chinese values and culture, in the process connecting others to the Chinese state. Very much the way Barcelona does in spreading and representing Catalan values and the Catalan State.

China's newfound love affair with soccer is here to stay. How it affects the global game is unknown for now.