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West begins to abandon USD
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It also has to be considered in the context of waning western economies (EU being more visibly evident to everyone than the US right now).
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Originally posted by Bill the Cat View PostFor now, the AIIB is more about symbolism than substance.
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Originally posted by seanD View PostHussein and Gaddafi weren't so lucky. Guess invasion and occupation of China isn't an ideal solution for US
It's so much harder to tackle someone closer to one's own size. Also, it doesn't help that in this current fight all of the US's 'friends' are abandoning it for the other side.
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For now, the AIIB is more about symbolism than substance. With an initial capital of just $50 billion, one third that of the Japan-led Asian Development Bank, and none of the World Bank’s expertise or institutional heft, it’s unclear how much of a dent the new bank could make in the region’s multi-trillion-dollar needs for roads, dams, bridges and ports. Its governance structure remains ill-defined and, potentially, a subject of controversy if and when the projects it backs start to have negative environmental or social consequences.
http://www.washingtonpost.com/opinio...8ff_story.html
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Couldn't come at a better time. Right when the fake US recovery is beginning to show signs of how fake it is and EU countries (including Germany) are on the brink of yet another societal breakdown in spite of its own version of QE. Wait til Greece leaves; that's when it should really be fun to watch western economic meltdown
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Update: In addition to the UK, Germany, France and Italy - these are the four largest European economies - have applied to join the AIIB, also Switzerland and Luxembourg. Doubtlessly many more will follow.
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Originally posted by Paprika View PostMy personal space is offended by the intolerance of your white, bourgeois, paternal-centric attitude. Now shut up, Dad, and go buy some groceries while I move back into your basement.
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