Wednesday, 1 April 2015

China Take Another Step To New World Order

Despite the best efforts of the Americans, the world order will make shift at midnight as the Chinese launch and the 46 countries who have signed up, launch the rival to the World Bank, the Asian Infrastructure Investment Bank (AIIB).
The US has long used the World Bank as an arm of its foreign policy but that strategy has been made a bit limper as nations looking for a bit to tide them over have a new place to lend from despite Barack Obama's diplomats doing all they can to persuade countries not to join up and kill it at birth and in turn stop doing what they themselves do with the World Bank and use it as an instrument of Chinese foreign policy allowing Beijing to exert more influence regionally.
Amongst those ignoring America and signing up are Australia, South Korea, Indonesia, Great Britain, Germany, France, Italy, Brazil, India, Norway, South Korea, Russia, Spain, Turkey who have have all applied with only Japan are the only major economy along with America which has chosen not to be a founder member but it is still quite a coup for China who will know have greater regional and global influence.
America seems to think it's better to stay out of the club but most of the rest of the world takes a different view but China have the reserve currency in their sights and if that changes, and trading takes place in Yuan's and not US Dollar's, America will truly be on the slide and China the global major player.

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