US Warns Allies Not to Join China-led Development Bank
Eric Blair
Activist Post.com
Wednesday, March 18, 2015
How do you know a dollar collapse is coming? Because the rest of the world is preparing for it.
Western allies are flocking to join the new China-led Asian Infrastructure Investment Bank (AIIB), while the United States and World Bank sit on the sidelines and lecture them about “appropriate” financial governance.
Reuters reports:
The United States has urged countries to think twice before signing up to a new China-led Asian development bank that Washington sees as a rival to the World Bank, after Germany, France and Italy followed Britain in saying they would join.
The concerted move by U.S. allies to participate in Beijing’s flagship economic outreach project is a diplomatic blow to the United States and its efforts to counter the fast-growing economic and diplomatic influence of China.
Europe’s participation reflects the eagerness to partner with China’s economy, the world’s second largest, and comes amid prickly trade negotiations between Brussels and Washington.
“I hope before the final commitments are made anyone who lends their name to this organization will make sure that the governance is appropriate,” Treasury Secretary Jack Lew told U.S. lawmakers.
The Rest…HERE
