Posted on 03/17/2015 10:10:58 AM PDT by Olog-hai
Finance Minister Wolfgang Schäuble confirmed on Tuesday that Germany has agreed to join the China-led Asian Infrastructure Investment Bank (AIIB), despite pressure from the US.
Germany, France and Italy “want to bring our long experience … to help the bank build a solid reputation,” Schäuble said at a joint press conference in Berlin with Chinese vice-premier Ma Kai.
“We want to make a contribution to the positive development of the Asian economy, in which German companies are actively taking part,” he said.
France and Italy have also agreed to become members of the $50-billion institution, seen as a rival to the World Bank, the newspaper reported, citing European officials. …
(Excerpt) Read more at thelocal.de ...
This is the beginning of a monetary system which is actually set up to promote infrastructure and progress, and not retard it or prevent it...
Eh? A communist monetary system promotes infrastructure and progress? Yeah right. Tell it to the residents of China’s ghost cities.
Not surprising when their leader has ties to the former GDR.
$50 billion institution is a rival to the World Bank?
Dream on...
China still has problems, such as the 70m missing women due to the one-child law. But their monetary and banking system is working to improve their situation. That’s the opposite of the situation we’re in. Our money and banking systems are run by Malthusians, greentards, and bankers who enjoy playing gambling games with public money.
You may go now. Promoting communism on FR is not countenanced.
I have no interest in communism and that’s not what this BRICS bank is about. It’s basically about what used to be called the American System of Economics, which was devised by Alexander Hamilton and the Careys.
You’re joking, right? Red China and the EU about American economics? They hate that and call it “Anglo-Saxon capitalism”.
IBTZ.
This is the beginning. The IMF and World Bank, set up by Communist agent, Harry Dexter White, have allowed the U.S. to dominate the world economy. This is coming to an end.
Those were designed to bleed the USA dry rather than guarantee its preeminence.
I posted this as a comment at an FR site all a twitter about the messy little war in Yeman. This is so much bigger, it boggles the mind.
While this puny war of a few million people is going on, there are big doings in Asia. The Chinese are holding the BOAO Forum. The are discussing the formation of the AIIB with many nations joining including Brazil, UK and Germany. The scope of the Asian Infrastructure Investment Bank is widespread and all encompassing and must not be ignored.
http://thediplomat.com/2015/03/what-the-aiib-means-for-the-us-china-power-transition/
The BAOA Forum has and extensive AGENDA covering many topics: http://www.boaoforum.org/enannual2015/15509.jhtml
I first became aware of all this earlier today watching a Chinese news program. They showed maps of what they call their Belt and Road, and Silk Road initiative. The land route shown traveled from Asian countries to Tehran, Istanbul, and as far west as Rotterdam. The sea route touched india, went through Suez, and branched to Africa. What surprised me was to see that Russia was not on their maps, so I decided to try to find their map. It turns out there are many proposed routes, but the bulk of them do NOT go through Russia.
So while Iran, Saudi Arabia and a few other countries squabble over peanuts, the Asians are planning to plant and harvest the forest, carefully and sustainably, by developing world wide patterns of trade and prosperity.
They say this will encompass more than 1/2 the world’s population, and 1/3 the world’s economics.
IS ANYONE HERE PAYING ATTENTION?? By all means read these links and then Google, AIIB, BOAO Forum, Silk Road Initiative, and Belt and Road.
“Many roads to socialism”, as Khrushchev once said.
The ghost cities are certainly a result of poorly understood and applied economic regulatory mechanisms. However, the Chinese learn fast, and this effort includes Hong Kong, and many other countries which will temper the Chinese input with other realities and experience. Check out the names of all the countries signing on. Last I heard there were 37, probably more now. I believe there is some kind of deadline of March 31st. One reason that Brazil, Germany and UK are rushing to sign up.
Here is a Forbes take on this development.
This article goes into Canada’s concerns about joining, as well as the feelings of other countries.
Here is information on the Silk Road Initiative. http://www.cnbc.com/id/102542893
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.