Washington Caves: Will Seek Partnership With China-Led Development Bank

Don’t look now, but Washington just blinked. As we’ve documented exhaustively over the past week, pressure has been building steadily for the US to strike some manner of conciliatory tone towards China with regard to the Asian Infrastructure Investment Bank, a China-led institution aimed at rivaling the US/Japan-backed ADB. Britain’s decision to join China in its new endeavor has prompted a number of Western nations to throw their support behind the bank ahead of the March 31 deadline for membership application. Because the AIIB effectively represents the beginning of the end for US hegemony, the White House has demeaned the effort from its inception questioning the ability of non-G-7 nations to create an institution that can be trusted to operation in accordance with the proper “standards.” Now, with 35 nations set to join as founders, it appears Washington may be set to concede defeat. Here’s more, via WSJ:

The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank.

The collaborative approach is designed to steer the new bank toward economic aims of the world’s leading economies and away from becoming an instrument of Beijing’s foreign policy. The bank’s potential to promote new alliances and sidestep existing institutions has been one of the Obama administration’s chief concerns as key allies including the U.K., Germany and France lined up in recent days to become founding members of the new Asian Infrastructure Investment Bank.


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8 years ago

Obama should be physically removed from the white house and all who work for him. everyone of his evil satanic minions should be hanged for treason. where is the military and why arent they doing there job in cleaning out this rats nest of islamic marixsts. we have just officialy become a third world nation under this president and we no longer will hold the reserve currency in the world. Where are you democraps and republicraps now , its all your fault because you let the islamic phony two bit hoodlum negro destroy a once great nation, there will be a price to pay for all of you in the senate and congress for your lack of governing. this negro and his satan followers have done there job and done it well, now what’s left is us people standing in his way of total annihilation, but this is where he will meet his Waterloo and anyone in our military who takes his orders.

8 years ago

…repeat as necessary.