“Colossal Defeat” For Obama As Australia Joins China’s Regional Bank

Monday, March 16, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
03/16/2015

Having attacked its “closest ally” UK for “constant accomodation” with China, we suspect President Obama will be greatly displeased at yet another close-ally’s decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, “make no mistake,” the decision by Australia’s Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend, “represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted dip­lomacy in Asia.” It seems de-dollarization continues…

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