How can a country (region) conduct a global expansion policy?

To conduct a global expansion policy, a country must invest abroad: corporate investment, infrastructure investment, etc. How can such a global expansion policy be financed? By using the country's external surplus: this is what China is doing, but it is becoming increasingly difficult for China as its surplus is gradually disappearing; Through a financial transformation policy: even if the country has an external deficit, it borrows abroad and reinvests in capital (companies, infrastructure) abroad; this is the traditional US strategy. It is interesting to see that the euro zone and Japan do not have a clear global expansion strategy since their external surpluses are primarily invested in bonds, especially public-sector bonds.