Cracks in the ‘special relationship’? Obama administration hits out at UK for trying to ‘constantly accommodate’ China after Britain signs up to $50bn Beijing bank…(Adios, USSA!)
Britain looking to become founding member of Chinese-led regional bank
But Washington has hit out at Britain’s ‘constant accommodation’ of China
Comments are a rare breach of ‘special relationship’ between UK and US
China first proposed a new Asian Infrastructure Investment Bank in 2013
It has since pledged to put up most of the bank’s initial $50billion in capital
Washington fears it could undercut World Bank and International Monetary Fund
But Britain says joining will help the UK promote commercial ties with Asia
By JULIAN ROBINSON
DaiyMailUK
13 March 2015
The Obama administration has hit out at Britain for developing closer ties with China after the UK applied to join a new $50billion Asian bank.
Britain wants to become a founding member of a proposed Chinese-led financial institution that analysts say could rival the World Bank.
But in a rare slapdown, the US administration has criticised one of its closest allies for its ‘constant accommodation’ of China.
The British Treasury said on Thursday that it will join talks this month on the Asian Infrastructure Investment Bank’s structure and governance arrangements.
China proposed the bank in 2013 to finance construction of roads and other infrastructure. It has pledged to put up most of its initial $50billion in capital.
But the Financial Times has quoted a US administration source as saying Britain took its decision after showing ‘virtually no consultation with the US’ and as G7 was still discussing how to approach the new bank.
The Rest…HERE
